Nihar Malaviya, an Indian-origin publishing executive, has been named the interim CEO of New York-based international publishing group Penguin Random House after its current chief executive officer Markus Dohle announced that he is stepping down from the role.

Malaviya, who has been President and Chief Operating Officer (COO) of the publisher's American division Penguin Random House US since 2019, will assume the role of Interim CEO of Penguin Random House starting January 1, 2023, the publisher's parent company Bertelsmann said in a statement Friday.

Malaviya, who will report to Bertelsmann CEO Thomas Rabe, will join Bertelsmann's Group Management Committee (GMC), as well as continue to be a member of the Penguin Random House Global Executive Committee.

"Following Malaviya's appointment, the GMC will comprise 20 top executives of eight different nationalities," the statement said.

"As interim CEO of Penguin Random House, Malaviya will lead the creation of new competitive advantages that position the global company for future growth," the statement said.

In his capacity as President and COO, Malaviya, 48, was responsible for all publishing operations in the US from supply chain to technology and data and client services.

Dohle is stepping down as CEO at the end of 2022, and simultaneously resigning his seat on the Bertelsmann Executive Board, "at his own request and on the best of mutual terms," Bertelsmann said.

Dohle said in the statement that after nearly 15 years on the Executive Board of Bertelsmann and at the helm of the global publishing business, he has decided to hand over the next chapter of Penguin Random House to new leadership, following the antitrust decision in the US against the merger of Penguin Random House and Simon &amp; Schuster.

In late October this year, the US District Court for the District of Columbia ruled in favour of the Justice Department in its civil antitrust lawsuit to block Penguin Random House's proposed USD 2.2 billion acquisition of Simon &amp; Schuster.

The court had found that the effect of the proposed merger would be to substantially lessen competition in the market for the US publishing rights to anticipated top-selling books.

Assistant Attorney General Jonathan Kanter of the Justice Department's Antitrust Division had said that the decision protected vital competition for books and was a victory for authors, readers, and the free exchange of ideas.

"The proposed merger would have reduced competition, decreased author compensation, diminished the breadth, depth, and diversity of our stories and ideas, and ultimately impoverished our democracy," Kanter had said.

Since 2014, Malaviya had the responsibility for all publishing operations in the US from the supply chain to technology and data and client services.&nbsp;He is a member of the Penguin Random House Global Executive Committee and leads the creation of new competitive advantages that position the global company for future growth.

He began his career at Bertelsmann in 2001 as a participant in the Bertelsmann Entrepreneurs Programme.

In 2003, he moved within the group to Random House, successfully taking on a number of leadership positions. Malaviya is a two-time recipient of the Bertelsmann Entrepreneur Award for Strategy Execution and serves on the Bertelsmann Technology and Data Advisory Board.

He holds an MBA in Finance and Marketing from the NYU Stern School of Business, as well as a Bachelor of Science in Computer Science. He is also a member of the board of Yale University Press.

Rabe described Malaviya as an "outstanding leader and an entrepreneurial publishing professional who knows Penguin Random House inside out.

"As the person responsible for all operational publishing processes in the US as well as the implementation of a global Tech &amp; Data agenda, he has played a major role in the company's success and created sustainable competitive advantages for Penguin Random House globally," Rabe said.

He added that with his deep understanding of the global media landscape and publishing industry, Malaviya will continue to develop the company and invest in its expansion, both organically and through acquisitions. 
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Nihar Malaviya, an Indian-origin publishing executive, has been named the interim CEO of New York-based international publishing group Penguin Random House after its current chief executive officer Markus Dohle announced that he is stepping down from the role.

Nihar Malaviya, an Indian-origin publishing executive, has been named the interim CEO of New York-based international publishing group Penguin Random House after its current chief executive officer Markus Dohle announced that he is stepping down from the role. Malaviya, who has been President and Chief Operating Officer (COO) of the publisher's American division Penguin Random House US since 2019, will assume the role of Interim CEO of Penguin Random House starting January 1, 2023, the publisher's parent company Bertelsmann said in a statement Friday. Malaviya, who will report to Bertelsmann CEO Thomas Rabe, will join Bertelsmann's Group Management Committee (GMC), as well as continue to be a member of the Penguin Random House Global Executive Committee. "Following Malaviya's appointment, the GMC will comprise 20 top executives of eight different nationalities," the statement said. "As interim CEO of Penguin Random House, Malaviya will lead the creation of new competitive advantages that position the global company for future growth," the statement said. In his capacity as President and COO, Malaviya, 48, was responsible for all publishing operations in the US from supply chain to technology and data and client services. Dohle is stepping down as CEO at the end of 2022, and simultaneously resigning his seat on the Bertelsmann Executive Board, "at his own request and on the best of mutual terms," Bertelsmann said. Dohle said in the statement that after nearly 15 years on the Executive Board of Bertelsmann and at the helm of the global publishing business, he has decided to hand over the next chapter of Penguin Random House to new leadership, following the antitrust decision in the US against the merger of Penguin Random House and Simon & Schuster. In late October this year, the US District Court for the District of Columbia ruled in favour of the Justice Department in its civil antitrust lawsuit to block Penguin Random House's proposed USD 2.2 billion acquisition of Simon & Schuster. The court had found that the effect of the proposed merger would be to substantially lessen competition in the market for the US publishing rights to anticipated top-selling books. Assistant Attorney General Jonathan Kanter of the Justice Department's Antitrust Division had said that the decision protected vital competition for books and was a victory for authors, readers, and the free exchange of ideas. "The proposed merger would have reduced competition, decreased author compensation, diminished the breadth, depth, and diversity of our stories and ideas, and ultimately impoverished our democracy," Kanter had said. Since 2014, Malaviya had the responsibility for all publishing operations in the US from the supply chain to technology and data and client services. He is a member of the Penguin Random House Global Executive Committee and leads the creation of new competitive advantages that position the global company for future growth. He began his career at Bertelsmann in 2001 as a participant in the Bertelsmann Entrepreneurs Programme. In 2003, he moved within the group to Random House, successfully taking on a number of leadership positions. Malaviya is a two-time recipient of the Bertelsmann Entrepreneur Award for Strategy Execution and serves on the Bertelsmann Technology and Data Advisory Board. He holds an MBA in Finance and Marketing from the NYU Stern School of Business, as well as a Bachelor of Science in Computer Science. He is also a member of the board of Yale University Press. Rabe described Malaviya as an "outstanding leader and an entrepreneurial publishing professional who knows Penguin Random House inside out. "As the person responsible for all operational publishing processes in the US as well as the implementation of a global Tech & Data agenda, he has played a major role in the company's success and created sustainable competitive advantages for Penguin Random House globally," Rabe said. He added that with his deep understanding of the global media landscape and publishing industry, Malaviya will continue to develop the company and invest in its expansion, both organically and through acquisitions. WATCH WION LIVE HERE

Indian-origin Nihar Malaviya named interim CEO of international publishing group Penguin Random House

In an anti-trust trial to stop the $2.2 billion merger of the two largest US publishers, Stephen King served as the key witness.

King was asked to testify by the US Department of Justice regarding the potential effects of the proposed merger between Penguin Random House and Simon &amp; Schuster on authors.

King, 75, told the court in Washington DC that he felt "the move would be bad for competition in the industry".

Both publishing houses contend that since they would continue to compete for the right to publish novels after the merger is complete, there would be no reduction in competition.

King - who has 50 years' experience in publishing - called that idea "a little bit ridiculous".

"You might as well say you're going to have a husband and wife bidding against each other for the same house," the novelist quipped, according to journalists in the court.

Since the release of his debut book, Carrie, in 1974, Stephen King has written more than 70 books, including cult favourites like The Shining and It, which have collectively sold more than 350 million copies.

King has also become more active on social media in the last ten years, engaging with followers and frequently urging his 6.8 million Twitter followers to support small and local bookstores.

Penguin Random House and Paramount Global, the parent company of Simon &amp; Schuster, declared intentions to merge in November 2020.

The Justice Department filed a lawsuit to stop the acquisition a year later. The government of US President Joe Biden has made increasing competition a key component of its economic strategy.

These accusations have been refuted by the merger's attorneys, who assert that blocking the deal "would hurt the very authors DOJ pretends to defend."

According to Daniel Petrocelli, Penguin's main counsel in the trial, "the DOJ has not found, and it does not allege, that the combination will lessen competition in the sale of books."

We are optimistic that the strong and competitive market will ensure that the purchase will strengthen rather than weaken competition.

Legal action against anti-trust violations aims to stop mergers and acquisitions from establishing market monopolies or engaging in anti-competitive behaviour like price-fixing.

(With inputs from BBC)

In an anti-trust trial to stop the $2.2 billion merger of the two largest US publishers, Stephen King served as the key witness. King was asked to testify by the US Department of Justice regarding the potential effects of the proposed merger between Penguin Random House and Simon & Schuster on authors.

In an anti-trust trial to stop the $2.2 billion merger of the two largest US publishers, Stephen King served as the key witness. King was asked to testify by the US Department of Justice regarding the potential effects of the proposed merger between Penguin Random House and Simon & Schuster on authors. King, 75, told the court in Washington DC that he felt "the move would be bad for competition in the industry". Both publishing houses contend that since they would continue to compete for the right to publish novels after the merger is complete, there would be no reduction in competition. King - who has 50 years' experience in publishing - called that idea "a little bit ridiculous". "You might as well say you're going to have a husband and wife bidding against each other for the same house," the novelist quipped, according to journalists in the court. Since the release of his debut book, Carrie, in 1974, Stephen King has written more than 70 books, including cult favourites like The Shining and It, which have collectively sold more than 350 million copies. King has also become more active on social media in the last ten years, engaging with followers and frequently urging his 6.8 million Twitter followers to support small and local bookstores. Penguin Random House and Paramount Global, the parent company of Simon & Schuster, declared intentions to merge in November 2020. The Justice Department filed a lawsuit to stop the acquisition a year later. The government of US President Joe Biden has made increasing competition a key component of its economic strategy. These accusations have been refuted by the merger's attorneys, who assert that blocking the deal "would hurt the very authors DOJ pretends to defend." According to Daniel Petrocelli, Penguin's main counsel in the trial, "the DOJ has not found, and it does not allege, that the combination will lessen competition in the sale of books." We are optimistic that the strong and competitive market will ensure that the purchase will strengthen rather than weaken competition. Legal action against anti-trust violations aims to stop mergers and acquisitions from establishing market monopolies or engaging in anti-competitive behaviour like price-fixing. (With inputs from BBC)

Stephen King provides government testimony in the case against publishing behemoths

She has, in her own way, broken the glass ceiling and made a mark of her own in the film industry. Which is why it is not surprising that this year, Penguin Random House India has chosen Priyanka Chopra as their speaker for their annual lecture. Priyanka will deliver an inspirational talk on &#39;Breaking the Glass Ceiling, Chasing a Dream&#39; on Tuesday in New Delhi.&nbsp; 
 
Penguin Random House India chose Priyanka as this year&#39;s speaker for her global reach and how she has been able to create an impact in the west with her TV show Quantico.&nbsp; 
 
&quot;Priyanka Chopra is an icon for today&#39;s young Indians who identify with her drive, passion, intelligence and charisma. She has been a social media trendsetter and has a massive fan base across the globe.&nbsp;Much loved and admired as an artiste by people in India and around the world, she is also recognized as a global Indian - a woman who has broken the glass ceiling to reach the highest echelons of international stardom - and for her philanthropic work as Unicef&#39;s global goodwill ambassador,&quot; read a statement by the publishing house, describing the journey of the former beauty queen.&nbsp;

Interestingly, Priyanka is the first woman speaker of this series. The Penguin Annual Lecture which was started in 2007, has seen eminent personalities like the Dalai Lama, APJ Abdul Kalam, Amartya Sen, Thomas Friedman, Amitabh Bachchan, Ramchandra Guha and authors like Dan Brown, Jeff Kinney and Ruskin Bond as speakers.&nbsp; 
 
The lecture series was initiated to bring writers, artists, thinkers from across the world to speak directly with audiences and admirers in India. &nbsp;

Priyanka has been chosen as this year's speaker for her global reach.

She has, in her own way, broken the glass ceiling and made a mark of her own in the film industry. Which is why it is not surprising that this year, Penguin Random House India has chosen Priyanka Chopra as their speaker for their annual lecture. Priyanka will deliver an inspirational talk on 'Breaking the Glass Ceiling, Chasing a Dream' on Tuesday in New Delhi. Penguin Random House India chose Priyanka as this year's speaker for her global reach and how she has been able to create an impact in the west with her TV show Quantico. "Priyanka Chopra is an icon for today's young Indians who identify with her drive, passion, intelligence and charisma. She has been a social media trendsetter and has a massive fan base across the globe. Much loved and admired as an artiste by people in India and around the world, she is also recognized as a global Indian - a woman who has broken the glass ceiling to reach the highest echelons of international stardom - and for her philanthropic work as Unicef's global goodwill ambassador," read a statement by the publishing house, describing the journey of the former beauty queen. Interestingly, Priyanka is the first woman speaker of this series. The Penguin Annual Lecture which was started in 2007, has seen eminent personalities like the Dalai Lama, APJ Abdul Kalam, Amartya Sen, Thomas Friedman, Amitabh Bachchan, Ramchandra Guha and authors like Dan Brown, Jeff Kinney and Ruskin Bond as speakers. The lecture series was initiated to bring writers, artists, thinkers from across the world to speak directly with audiences and admirers in India.

Priyanka Chopra is the first woman to speak at 'The Penguin Annual Lecture' series