News Corp upsetting the applecart, might be interested in buying Penguin
HarperCollins' parent News Corp "has expressed interest in buying Penguin Group, potentially undercutting merger discussions between book publishers Penguin and Random House," the Wall Street Journal reports today on its website, citing a person familiar with the situation.
Penguin: News Corp interest
The WSJ owned by News Corp. recalled that last week Penguin's parent, Pearson , confirmed it was in discussions to merge Penguin with Random House, owned by Geman firm Bertelsmann. That deal that would create a book-publishing giant, said the WSJ ,accounting for more than 25% of global English language consumer book sales.
The talks come "as book publishing is undergoing big changes spurred by the emergence of digital books and the growing power of Web retailers such as Amazon, Apple and Google.," said the report. Amazon, in particular, has led a push for discounting of e-books.
A spokesman for Bertelsmann in Germany declined to comment .
A spokeswoman for Penguin Group also declined to comment. A Pearson spokesman couldn't be reached, said the WSJ.