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Random House

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Random House
Parent companyPenguin Random House
Founded1927; 97 years ago (1927)
FounderBennett Cerf and Donald Klopfer
Country of originUnited States
Headquarters locationRandom House Tower, New York City, New York, United States
DistributionWorldwide
Key peopleMarkus Dohle (CEO, Penguin Random House)
Núria Cabutí (CEO, Penguin Random House Grupo Editorial)
Gina Centrello (President & Publisher, The Random House Publishing Group)
Anthony Chirico (President, Knopf Publishing Group)
Barbara Marcus (President & Publisher, Random House Children's Books)
Brad Martin (President & CEO, Random House of Canada)
Maya Mavjee (President & Publisher, Crown Publishing Group)
Nihar Malaviya (Chief Operating Officer, Random House, Inc.)
Sonny Mehta (Chairman & Editor-in-Chief, Knopf Doubleday Publishing Group)
Gail Rebuck (Chairman & CEO, The Random House Group UK)
Dr. Frank Sambeth (Chairman & CEO, Verlagsgruppe Random House)
Frank Steinert (Executive Vice President & Chief Human Resources Officer, Random House Worldwide)
Publication typesBooks
RevenueIncrease€2.142 billion Euros (2012)
Owner(s)Bertelsmann
Pearson PLC
No. of employees5,712 (as of December 31, 2012)
Official websiterandomhouse.com

Random House is the largest general-interest trade book publisher in the world.[1][2][3] As of 2013, it is part of Penguin Random House, which is jointly owned by German media conglomerate Bertelsmann and global education and publishing company Pearson PLC.

History

Early History

Random House was founded in 1927 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.[4] In 1934 they published the first authorized edition of James Joyce's novel Ulysses in the Anglophone world.[5]

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.[6]

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

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.[6][7]

In 1988, McGraw-Hill Education acquired the Schools and Colleges division of Random House Inc.[8]

Acquisition by Bertelsmann

In 1998, Bertelsmann AG bought Random House and it soon went global.[9]

In December of 2008, Random House announced a reorganization of its publishing divisions along with sweeping changes in executives and in staff. The reorganization consolidated and created three divisions--Random House Publishing Group, Knopf Doubleday Publishing Group and Crown Publishing Group.[10][11]

Random House has been the distributor for Shambhala Publications since 1974. They also currently distribute Rizzoli Books, National Geographic Books, Steerforth Press, Wizards of the Coast, Vertical Inc., Welcome Books, The New York Review of Books, Titan Books, Other Press, Kodansha Manga, Hatherleigh Press, North Atlantic Books, Monacelli Press Books, Sasquatch Books, and DC Comics.

Random House also has an entertainment production arm for film and television, Random House Studio; one release in 2011 was One Day. The company also creates story content for media including video games, social networks on the web, and mobile platforms. It is one of the largest English-language publishers, formerly known as the "Big 6", now known as the "Big Five".

Merger with Penguin

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. The merge was completed on 1 July 2013 and the new company is Penguin Random House.[12] Bertelsmann owns 53% of the joint venture while Pearson owns 47%.[13] At the time of the acquisition the combined companies controlled 25% of the book business with more than 10,000 employees and 250 independent publishing imprints and with about $3.9 billion in annual revenues.[13] The move to consolidate was to provide leverage against Amazon.com and battle the shrinking state of bookstores.[13]

Headquarters

The publisher's main office in the United States is located at 1745 Broadway in Manhattan, in the 684-foot Random House Tower, completed in 2003 and spanning the entire west side of the block between West 55th Street and West 56th. Its lobby showcases floor-to-ceiling glassed-in bookcases filled with books published by the company's many imprints. Earlier addresses were 457 Madison Avenue, New York 22, NY; 20 East 57th Street, New York 22, NY; and 201 East 50th Street, New York, NY 10022.

For a listing of Divisions and Imprints

See also: Penguin Random House

International branches

Random House, Inc. maintains several independently managed subsidiaries around the world.

The Random House Group is one of the largest general book publishing companies in the UK and is based in London. The Group comprises five publishing companies: Cornerstone Publishing, Vintage Publishing, Ebury Publishing, Random House Children's Publishers UK and Transworld Publishers, boasting more than 40 diverse and highly respected imprints. Its distribution business services its own imprints as well as 60 other UK publishers. The Random House archive and library is located in Rushden in Northamptonshire.

The Random House Group also operates branches in Australia, New Zealand, South Africa (as a joint venture under the name Random House Struik), and India as part of its overseas structure. In Australia offices are in Sydney and Melbourne.[14] In New Zealand it is based in Glenfield, Auckland, while Random House's Indian headquarters are located in New Delhi.

Verlagsgruppe Random House was established after Bertelsmann's 1998 acquisition of Random House, grouping its German imprints (until then operating as Verlagsgruppe Bertelsmann) under the new name. It is the second largest book publisher in Germany with more than 40 imprints, including historic publishing houses Goldmann and Heyne, as well as C. Bertelsmann, the publishing house from which today's Bertelsmann SE & Co. KGaA would eventually evolve. Verlagsgruppe Random House is headquartered in Munich (with additional locations in Gütersloh, Cologne, and Aßlar), employs about 850 people, and publishes roughly 2.500 titles per year.

Penguin Random House Grupo Editorial is Random House's Spanish-language division, targeting markets in Spain and South and Central America. It is headquartered in Barcelona with locations in Argentina, Chile, Colombia, Mexico, Uruguay, and the United States. From 2001 until November 2012, it was a joint venture with Italian publisher Mondadori (Random House Mondadori). Upon Bertelsmann's acquisition of Mondadori's stake in the JV, the name was kept temporarily four months.[15] Some authors published by Penguin Random House Grupo Editorial include Dr. César Lozano, Yordi Rosado, Dr. Nancy Alvarez and Alberto Sardiñas.

Random House of Canada[16] was established in 1944 as the Canadian distributor of Random House Books. In 1986 the company established its own indigenous Canadian publishing program that has become one of the most successful in Canadian history. Until January 2012 it used to hold a 25% stake in McClelland & Stewart, with the remaining 75% being controlled by the University of Toronto. It is now the sole owner of McClelland & Stewart.

In late 2009 and early 2010, respectively, Random House discontinued their Japanese joint venture Random House Kodansha, which had been established in 2003, and also divested their four-year ownership of Random House Korea. The company has since named Random House Australia managing director Margie Seale responsible for exploring and evaluating potential future business opportunities in Asia.[17]

See also

See also: Penguin Random House
See also: List of English language book publishers
See also: List of largest UK book publishers
See also: Media of New York City
See also: Publishing

References

  1. ^ "Random House - Bertelsmann AG" (in German). Archived from the original on 18 June 2013. Retrieved 13 August 2012. {{cite web}}: |archive-date= / |archive-url= timestamp mismatch; 3 June 2013 suggested (help)
  2. ^ "Größter Buchverlag der Welt bekommt neuen Chef". Frankfurter Allgemeine Zeitung. Reuters. 20 May 2008. Archived from the original on 21 August 2013. Retrieved 21 August 2013. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help); Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)
  3. ^ "Randomhouse.biz - About Us". Business Solutions. Random House. 31 December 2011. Archived from the original on 1 May 2013. Retrieved 12 August 2013. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  4. ^ C250.columbia.edu, Bennet Alfred Cerf Biography
  5. ^ Birmingham, Kevin (2014). The most dangerous book: the battle for James Joyce's Ulysses. London: Head of Zeus. ISBN 9781784080723.
  6. ^ a b Korda, Michael (1999). Another Life : a memoir of other people (1st ed.). New York: Random House. ISBN 0-679-45659-7.
  7. ^ "RCA History". bobsamerica. Retrieved 3 October 2015.
  8. ^ McDowell, Edwin (29 September 1988). "McGraw-Hill Is Buying 2 Random House Units". The New York Times.
  9. ^ Random House Company History, from Fundinguniverse.com. Accessed April 13, 2008.
  10. ^ "Random Puts Its House in Order". PublishersWeekly.com. Retrieved 3 April 2016.
  11. ^ Rich, Motoko. "Major Reorganization at Random House". ArtsBeat. Retrieved 3 April 2016.
  12. ^ Edgecliffe-Johnson, Andrew; Wiesmann, Gerrit (26 October 2012). "Penguin and Random House in deal talks". Media. Financial Times. Retrieved 12 August 2013.(registration required)
  13. ^ a b c Bosman, Julie (1 July 2013). "Penguin and Random House Merge, Saying Change Will Come Slowly". The New York Times. ISSN 0362-4331. Retrieved 4 April 2016.
  14. ^ "Contacts". Random House Books Australia. Random House. Archived from the original on 29 September 2013. Retrieved 3 March 2014. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  15. ^ "Random House Mondadori is renamed Penguin Random House Grupo Editorial". penguinrandomhouse.com. 4 November 2013. Retrieved 6 November 2013.
  16. ^ Random House of Canada
  17. ^ "Benet.bertelsman.com". bertelsmann.com.[dead link‍]
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