Two of the biggest book publishing entities will now operate under one corporate roof.
The transaction is expected to close in 2021.
The imprint will continue to operate as a separate publishing unit under Penguin Random House.
Credit: Penguin-Random-House
It’s a move that will no doubt drastically reshape the book publishing landscape.
Approximately one-third of all books sold in America will now come from one corporation, Bertelsmann.
Book sales have been on the rise this year, given the environment surrounding lockdowns and the pandemic.
