Welcome to the world’s largest book publisher: Penguin-Random House merger complete

Random House parent company Bertelsmann and Penguin parent company Pearson announced Monday that the merger of the two publishers is complete, thus resulting in the world’s largest book publisher: Penguin Random House.

The merger follows approval by the U.S., Canada, the EU, Australia, New Zealand and China.

Random House CEO Markus Dohle will serve as CEO of Penguin Random House; Bertelsmann owns 53 percent of the combined company, and Penguin owns 47 percent. Combined, the companies publish over 15,000 books annually and have 10,000 employees, with revenues of $3.9 billion.

» via paidContent