Big news in the world of art and design publishing, as it's been announced that Random House has purchased The Monacelli Press, who, if you're not immediately familiar with, you likely recognize the titles they've published, from Bruce Mau and Rem Koolhaas' S, M, L, XL to the massive Frank O. Gehry: The Complete Works. Now they've been picked up by Random, who was apparently interested in expanding their large, "visual book segment." Here's a bit from Publisher's Weekly:

The company will operate as a standalone imprint of Random House Inc. with [founder] Gianfranco Monacelli continuing to head the operation from new offices at Random House's New York office. Sales and distribution will move from Penguin to Random House July 1. Random deputy chairman and COO Edward Volini said RH welcomes Monacelli Press "as a unique publishing program within Random House and look forward to providing growth opportunities for our new colleagues' business."

More info and a downloadable press release can be found here, on Random House's site.