March 28, 2013
Reuters: EU regulators will approve Random House-Penguin merger
by Alex Shephard
It looks like Random House-Penguin‘s winning streak will continue. Citing two unnamed sources, Reuters is reporting that the European Union will approve the proposed merger of Random House and Penguin. This news comes just a day after Random House announced record profits—not much of a surprise, considering that their smash softcore S & M trilogy, Fifty Shades of Grey, sold 70 million copies—and six months after the merger was first announced.
Reuters notes that neither company is expected to provide concessions and that “companies typically do not offer concessions if regulators do not see any anti-competitive effects resulting from mergers.”
And so, the dark forces (allegedly) behind the merger roll on, embraced by leading regulatory bodies: if approval is, in fact, granted before the April 5 deadline set by the EU competition authority, the European Union, the United States, Australia, and New Zealand all will have approved the deal. China, Canada, and Austria have yet to reach a decision.
Alex Shephard is the director of digital media for Melville House, and a former bookseller.