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Endpoint: Random House, Inc.



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created on: 13/12/2018
by: Lo55o (12487)
 
 

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Random House, Inc. is an American book publisher and the largest general-interest paperback publisher in the world.
As of 2013, it is part of Penguin Random House, which is jointly owned by German media conglomerate Bertelsmann and British global education and publishing company Pearson PLC.

Random House was founded in 1925 by Americans Bennett Cerf and Donald Klopfer, two years after they acquired the Modern Library imprint from publisher Horace Liveright, which reprints classic works of literature. Cerf is quoted as saying, "We just said we were going to publish a few books on the side at random," which suggested the name Random House. In 1934 they published the first authorized edition of James Joyce's novel Ulysses in the Anglophone world.

Ulysses really launched Random House. ... Random House grew into a formidable publisher over the next two decades. In 1936, it absorbed the firm of Smith and Haas—Robert Haas became the third partner until retiring and selling his share back to Bennett and Donald in 1956—which added authors including Faulkner, Isak Dinesen, André Malraux, Robert Graves, and Jean de Brunhoff, who wrote the Babar children's books. Random House also hired legendary editors Harry Maule, Robert Linscott, and Saxe Commins, and they brought authors such as Sinclair Lewis and Robert Penn Warren with them.

Random House entered reference publishing in 1947 with the American College Dictionary, which was followed in 1966 by its first unabridged dictionary.

In October 1959, Random House went public at $11.25 a share. This move drew other publishing companies, such as Simon & Schuster, to later go public.

American publishers Alfred A. Knopf, Inc. and Pantheon Books were acquired by Random House in 1960 and 1961, respectively; works continue to be published under these imprints with editorial independence, such as Everyman's Library, a series of classical literature reprints.

In 1965, RCA bought Random House as part of a diversification strategy and later sold Random House to Advance Publications in 1980.

In 1988, Random House acquired Crown Books. Also in 1988, McGraw-Hill acquired the Schools and Colleges division of Random House, Inc.

In 1998, Bertelsmann AG bought Random House and merged it with Bantam Doubleday Dell and it soon went global.

In October 2012, Bertelsmann entered into talks with rival conglomerate Pearson PLC, over the possibility of combining their respective publishing companies, Random House and Penguin Group. The merger was completed on 1 July 2013 and the new company is Penguin Random House.
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Item number : 24440

Submitted by : Lo55o (12487)
on : 13/12/2018