Random House buys Virgin Books

<p>The Random House Group has acquired 90% of Virgin Books and worldwide use of the Virgin brand in book, audio and digital publishing. The deal, which was announced this morning, also includes five new books by Virgin founder Richard Branson, whose Virgin Group will retain a 10% stake in the company and a seat on the board.<br /><br />Virgin will remain in its Hammersmith offices and continue to be led by m.d. KT Forster, who will now report to Random House board director Richard Cable. Virgin Group director Will Whitehorn will remain a director of Virgin Books under the new ownership stru...

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