A Penguin-Random House Merger Is Scaring the Literary World

Publishing’s Big Six might soon be consolidated to a Big Five. Representatives from Pearson have confirmed that they’re in talks to sell Penguin to German media giant Bertelsmann, who would merge it with Random House. “The two companies have not reached agreement and there is no certainty that the discussions will lead to a transaction,” Pearson revealed in a statement first lodged with the Financial Times, the newspaper it owns. ”A further announcement will be made if and when appropriate.” The news frightens industry professionals already battered by sweeping layoffs.

» via The Atlantic

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    This legitimately blew my mind.
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