After placing the winning bid in the auction for the book assets of bankrupt F+W Media, Penguin Random House has completed the purchase of 2,000 backlist titles.
The company said the former F+W lists will become part of PRH’s Penguin Publishing Group division. Since the deal was for assets only, no F+W employees are moving to Penguin on a full-time basis.
Among the titles acquired in the purchase are The Crystal Bible and the Writer’s Market series. In an unusual twist, given PRH’s robust distribution functions, sales and fulfillment for the F+W publishing program will continue to be handled by Ingram’s Two Rivers division for the foreseeable future.
"This acquisition presents an exciting publishing opportunity for us," Allison Dobson, president of the Penguin Publishing Group, said in a prepared statement. "The nonfiction categories encompassed by the F+W list will expand and complement PPG’s already very strong set of imprints and lists."