Pearson sells stake in book publisher Penguin Random House to Bertelsmann

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The edification publishing group will make about £778 million from the reduced in price on the market of the stake in the business, whose titles include Fifty Shades of Glum and Jamie Oliver’s cook books, to partner Bertelsmann. 

Chief Number one John Fallon said in a statement: “The future of Pearson is as the world’s digital information company. It is challenging, it is difficult. 

«We need to make sure we can invest what we demand to invest to make that digital transformation. 

«I do think you need to see this distinct move as a continuation of a strategy that goes right back to 2012.

«From the import we combined Penguin with Random House and took a minority pole, from that point we made clear the strategic direction of the party.”

It retains a 25 per cent holding, which it cannot sell for a lowest of 18 months, and will return £300 million to shareholders.

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