Penguin's Parent company buys Borders

Well this is fun news.  Looks like Borders will be rescued...at least in Australia.  TeleRead announced this today here.  Of course, there's always a tiny sour note with every good one.  This little deal is being investigated to make sure Penguin is monopolizing the book industry out yonder.

"While Amazon was buying up The Book Depository, Pearson Australia, the parent company of Penguin Books, was busy negotiating with REDgroup to buy Australia’s Borders and Angus & Robertson websites. Other booksellers are now calling for an investigation by the Australian Competition and Consumer Commission (ACCC) to ensure that the deal won’t give Penguin an unfair competitive advantage in the tightly controlled Australian market.

From The Canberra Times:

"The acquisition, which has been in the works for just three weeks and is due to take effect on July 28, indirectly places one of the nation’s largest book publishers in competition with its core group of existing customers, bricks and mortar bookstores." "

Continue reading here.
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