Booktrade.info reports that Random House UK has acquired a 90 per cent stake in Virgin Books in a deal which gives the company worldwide use of the Virgin brand in the field of book, audio and digital publishing. In a separate agreement, Sir Richard Branson will also write five new books for Virgin Books. The company will remain in their Hammersmith offices and continue to be led by KT Forster who will now report to board director Richard Cable. “Virgin Books is a great addition to the Random House group of companies and I look forward to working with KT and the Virgin team to develop the hugely valuable brand,” Cable said in the announcement. “We have very ambitious plans and we can look forward to a period of stability and investment on which we to build a formidable worldwide publishing company.”
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