NEW YORK -- Two of the world's largest publishers, Random House Inc. and Penguin Group, expect to complete a planned merger next month.
Parent companies Bertelsmann and Pearson announced Monday that the merger had been cleared by anti-trust authorities in China, among the last countries to give approval. The new publishing house, Penguin Random House, will be 53 percent controlled by Bertelsmann and 47 percent by Pearson.
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Penguin Random House will include top-selling authors such as Dan Brown and Ken Follett and a vast back catalog ranging from John Steinbeck's "The Grapes of Wrath" to Ralph Ellison's "Invisible Man."
The announcement came on the same day a trial was set to begin over government allegations that Apple and five publishers, including Penguin, conspired to rig e-book prices. All five publishers have settled.