Canadian Authorities Cleared Penguin Random House


    --  Bertelsmann welcomes decisions by Canadian Competition Bureau
        and Department of Canadian Heritage
    --  Another approval without conditions
    --  Closing once all official approvals are in

GÜTERSLOH, Germany, April 20, 2013 /CNW/ - The Canadian Competition Bureau 
and the Department of Canadian Heritage have cleared the planned merger of 
Penguin Group and Random House without conditions. The two international media 
companies Bertelsmann and Pearson welcome the Canadian authorities' decision 
as another important step on the way to completing the combination of their 
respective publishing companies Random House and Penguin Group to Penguin 
Random House.

On February 14, 2013, the U.S. Department of Justice was the first authority 
to approve the planned merger - also without conditions. This was followed by 
approvals in Australia and New Zealand. On April 5, the EU Commission in 
Brussels also approved the planned combination without conditions. Other 
regulatory authorities are still reviewing the transaction. After all 
necessary approvals have been received, Bertelsmann and Pearson can close the 
transaction. The two companies are confident that the approvals will be 
forthcoming during the course of the year.

The new publishing group, whose planned establishment the two partners had 
announced last October, will be 53 percent owned by Bertelsmann and 47 percent 
owned by Pearson. Penguin Random House will encompass all Random House and 
Penguin Group publishing units in the U.S. and U.K., Canada, Australia, New 
Zealand, India and South Africa, as well as Penguin's activities in China and 
Random House's publishers in Spain and Latin America.

About Bertelsmann
Bertelsmann is an international media company whose core divisions encompass 
television (RTL Group), book publishing (Random House), magazine publishing 
(Gruner + Jahr), services (Arvato), and printing (Be Printers) in some 50 
countries. In 2012, the company's businesses, with their more than 100,000 
employees, generated revenues of €16.1 billion. Bertelsmann stands for a 
combination of creativity and entrepreneurship that empowers the creation of 
first-rate media, communications, and service offerings to inspire people 
around the world and to provide innovative solutions for customers.

Bertelsmann SE & Co. KGaA Markus Harbaum Phone: +49 - 52 41 - 80 888 55 
markus.harbaum@bertelsmann.de

SOURCE: Bertelsmann

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CO: Bertelsmann
NI: PUB MNA 

-0- Apr/20/2013 04:40 GMT


 
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