Penguin Random House has completed its purchase of Times Media Group's majority stake in South Africa-based Random House Struik. Random House Struik was formed in 2008 following the merger of Random House South Africa and Struik Publishers with the Random House Group holding a 49.9% stake and Times Media Group’s New Holland Publishing holding 50.1% share.
Following its takeover of Random House Struik, PRH now has two companies in South Africa and in its announcement the company said that Random House Struik and Penguin Books South Africa "will now work in close cooperation under the respective leaderships of Steve Connolly and Stephen Johnson with a view to integrating the businesses within Penguin Random House in 2014.”
