Bertelsmann, the corporate parent of Random House, has purchased a 100 percent stake Random House Mondadori. Random House created the publishing house for Spain and Latin America in 2001, splitting the shares 50/50 with the Spanish publisher.
Spanish antitrust authorities still need to approve the acquisition, and the name will be changed “in the near future.” The move came one week after Random House decided to merge with Penguin next year, creating Penguin Random House.
Bertelsmann CEO Thomas Rabe had this comment: “Bertelsmann believes in the creative and commercial potential of the book business and, by maximizing its holding in Random House Mondadori, is embracing an opportunity to significantly improve both its position in the Spanish book market and its access to the growing Spanish-language markets of Latin America.”