Penguin Books Merger Plan
(N.Z.P.A.-Reuter—Copyright) LONDON, July 9. Penguin Books, Britain’s most successful paperback publishers, has announced plans to merge with Lord Cowdray's publishing empire, the Pea-son-Longman group. The announcement came a day after the death of Sir Allen Lane, Penguin’s founder. It was disclosed that during Sir Allen Lane’s lifetime, a gentlemen’s agreement was reached that after his death his company should be taken over by Lord Cowdray’s group, which Includes the “Financial Times,” the Westminister Press—which publishes newspapers throughout Britain—and several bookpublishing companies. The boards of the two companies have agreed to the merger, which must now be put to their shareholders Penguin’s shareholders include the American publishers, McGraw Hill, which has a 10 per cent interest
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Bibliographic details
Press, Issue 32345, 10 July 1970, Page 13
Word Count
119Penguin Books Merger Plan Press, Issue 32345, 10 July 1970, Page 13
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