Penguin and Random House have officially merged and are now Penguin Random House. The merger, which was first announced last fall after a swirl of rumors, has taken eight months to finalize and means that the combined publishing house now controls over a quarter of the US and UK market. The new publishing mega company, which is projecting annual revenues of $3.9 billion, will employ more than 10,000 people worldwide across almost 250 imprints.
“Over the past few months, we have been working through the many financial, legal, and logistical arrangements necessary for the merger to become a reality. But despite the tasks already accomplished, we are really still just at the starting line when it comes to building our new company,” Markus Dohle, the CEO of Penguin Random House, wrote in an email to literary agents. “The process of creating a unified Penguin Random House platform of systems and operations will be gradual, providing plenty of time for us to learn and evaluate from all sides of our company the best ways to bring together our programs, resources, skills, talents, and ideas in order to best serve authors, booksellers, readers, and all of our marketplace partners.”
Felix Gillette talks to Newsweek editor-turned-NBC Washington Bureau head Mark Whitaker, who describes his position as follows: "It’s a fascinating job… For me, it’s the perfect job."
John Koblin checks in with Dean Baquet, The New York Times‘ Washington Bureau Chief who tells him, “It is a huge moment for the bureau and Read More
Maybe it’s all the inauguration business going to Pub Crawl’s head, but at the end of the day, you kind of have to hand it to Markus Dohle. The guy came out of nowhere—knew next to nothing of American book publishing when tapped last spring at the age of 39 to become CEO of Random Read More
The dramatic reorganization of Random House initiated a month and a half ago by new C.E.O. Markus Dohle came one step closer to completion this morning, as the publisher of the company’s biggest division—the flagship Random House Publishing Group—sent a memo to staff announcing a new executive structure.
The length and Read More
Random House CEO Markus Dohle sent a long year-end letter to staff this morning outlining goals for 2009 and reaffirming that, despite "economic forecasts for 2009 [that are] growing more pessimistic each day," the company "will continue to spend several hundred million dollars to acquire and market" its books and maintain the "publishing independence and Read More
The fallout from Markus Dohle’s reorganization of Random House has begun. It’s unclear how many people were laid off yesterday (or how many still will be), but according to a source in the foreign rights world, a partial restructuring of the company’s subsidiary rights operation has forced the elimination of at least two positions Read More
Reading the memo from Markus Dohle last Wednesday morning about the reorganization of Random House was an exercise in restraint. The temptation to skip ahead—to bypass the note’s soft top and find out as quickly as possible the part that unveiled, finally, after six silent months, how Random House Inc. would change under Mr. Dohle’s Read More
The "Books=Gifts" promotional campaign that Random House C.E.O. Markus Dohle came up with last month sees its latest manifestation on The New York Times‘ Web site today, with a tall, bookmark-shaped Knopf ad that appears when you open any of the top stories. The ad is made up of three slides, Read More
In a company-wide memo sent to Random House staff this afternoon—labeled "a very different memo" by company spokesman Stuart Applebaum when he forwarded it to media—Markus Dohle turned a spotlight upon Random House’s strong presence on year-end book lists published this week by The Toronto Globe and Mail and The New Read More
Prior to yesterday morning, it appeared that maybe Markus Dohle had secretly climbed out through his bathroom window at some point during the past six months and gone home to Germany. The dapper but mildly off-putting 40-year-old had been appointed CEO of Random House Inc. back in May, and since then, as far as anyone Read More