Much like oil companies and financial institutions, the publishing industry sees mergers off and on, making news when big names merge or enter partnership. The latest in this series is the merger of Spain’s leading publishing group Santillana Ediciones Generales into Penguin Random House.
The Bookseller reported last week that Penguin Random House has bought Santillana’s publishing business for €72 million. According to the story, this is the first international acquisition made by Penguin Random House.
The merger of Santillana Ediciones Generales is expected to be followed by an increased presence of Penguin Random House books in Spain as well as wide readership for Spanish authors in other parts of the world.
Penguin and Random House merged in 2013 to become Penguin Random House. The merger was completed in July last year. Publishers Weekly wrote that the merger would bring the business annual revenue of $3.9 billion by publishing via 250 imprints.
In India, meanwhile, Chiki Sarkar has been selected for the role of Penguin Random House India, leading the publishing work for the business in both English and local Indian languages, reported IBN Live.