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Continued: Penguin, Random House tie-up brings together publishers of 'Fifty Shades of Grey' and '1984'

  • Article by: ROBERT BARR , Associated Press
  • Last update: October 29, 2012 - 1:43 PM

Pearson, meanwhile, reported that its operating profit in the first nine months of the year fell 5 percent, although revenue increased by 5 percent. Revenue from Penguin was down 1 percent when stripping out the impact of fluctuating currency values.

The company attributed the profit drop to last year's sale of its half share of FTSE International, a joint venture with the London Stock Exchange.

Penguin is one of two publishers being sued by U.S. government for alleged e-book price fixing. A trial is scheduled for next summer.

The Bertelsmann deal is part of Pearson's strategy of focusing more on its education business. Penguin accounts for about 10 percent of the company's book sales.

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David Rising in Berlin contributed to this story.

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