LONDON--Education and publishing firm Pearson PLC (PSON.LN), and
Bertelsmann said Monday they have completed the joint venture to
create Penguin Random House, in which Pearson has a 47% share.
MAIN FACTS:
-Organization will generate synergies from shared resources such
as warehousing, distribution, printing and central functions.
-Pearson and Bertelsmann intend that the combined organization's
level of organic investment in authors and new product models will
exceed the total investment of Penguin and Random House as
independent publishing houses.
-In 2012, Penguin Random House had pro forma revenue of 2.6
billion pounds (3.2 billion Euros) and operating profit of GBP346
million (EUR427 million).
-Penguin reported revenue of GBP1.1 billion and operating profit
of GBP98 million with total assets of GBP1.2 billion.
-Pearson shares at 0725 GMT up 6 pence, or 0.51%, at 1177 pence
valuing the company at GBP9.57 billion.
-Write to Ian Walker at ian.walker@dowjones.com
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