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EU Clears Penguin, Random House Merger

 April 05, 2013 11:34 AM
 


(By Balachander) UK publisher Pearson Plc (NYSE: PSO) and German media company Bertelsmann have received clearance from the European regulators to merge their publishing businesses Penguin and Random House.

The European Commission found that the merger, which will create the world's largest book publisher, would not raise competition concerns.

The merged entity will continue to face several strong competitors, the European Union's antitrust watchdog said.

The new entity Penguin Random House will continue to face competition from several large and numerous small and medium sized publishers, the Commission said.

[Related -Stocks End Sharply Lower Amid 'Fiscal Cliff' Fears; HP (HPQ) Falls]

In addition, the Commission's probe found no evidence that the merger would lead to risks of coordination among publishers in relation to the acquisition of authors' rights and the sale of English language books to dealers.

The two companies had announced the deal in October and they expect to completed the merger in the second half of 2013.

Bertelsmann is an international media company whose core divisions encompass television and television production (RTL Group), trade publishing (Random House), magazine publishing (Gruner + Jahr), music rights management (BMG) and services (Arvato) in some 50 countries.
 
Pearson is active in publishing educational materials (Pearson), business information (Financial Times) and trade publishing (Penguin; which includes Dorling Kindersley Books and Rough Guides).

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