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Penguin confirms Random House merger Tuesday, 30th October 2012
Penguin has confirmed its merger with German-owned Random House in a deal which sees the creation of the largest book publisher the world has ever seen.
The deal has already sent shockwaves throughout the industry which has already seen thousands of traditional bookshops close down as consumers increasingly turn to Amazon for printed and electronic texts.
The new company will be known as Penguin Random House and will account for about one in four of all books sold.