PENGUIN RANDOM HOUSE INVESTS IN GROWTH OF LEADING INDEPENDENT PUBLISHER SOURCEBOOKS
Companies To Forge Unique & Collaborative Partnership
(Naperville, Illinois and New York, May 22, 2019)—Sourcebooks, one of the country’s fastest-growing independent publishers, has sold a significant minority-ownership stake to Penguin Random House. The transaction, which was announced today by Dominique Raccah, Sourcebooks’ CEO and Founder, and Madeline McIntosh, Penguin Random House U.S. CEO, will create a performance- and growth-oriented partnership between the two companies. Sourcebooks retains its majority ownership of 55%, with no changes in its leadership, management, publishing autonomy, or entrepreneurial culture. Penguin Random House now owns 45%, as a collaborative investor in the Illinois-based company. Terms were not disclosed. Continue reading