paidContent: Canada clears Random House-Penguin merger

paidContent The economics of digital content

Canada clears Random House-Penguin merger Apr 22nd 2013, 12:29 Canada’s Competition Bureau and the Department of Canadian Heritage approved the proposed merger between Random House and Penguin on Friday. Penguin parent company Pearson and Random House parent company Bertelsmann expect the merger to take place in the second half of 2013. Random House and Penguin announced their merger last October. The U.S. Department of Justice approved it in February, followed by Australia, New Zealand and the European Union. Bertelsmann would own 53 percent of the combined company, and Pearson would hold 47 percent. Random House Penguin aims to enter emerging markets and expand its digital businesses. The merger awaits approval in China. Media files: Canadian flag laurahowen38

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