German media conglomerate Bertelsmann AG said Monday it will buy Random House, the largest U.S. book publisher.
Bertelsmann owns Bantam Doubleday Dell and has been looking to expand its English-language consumer publishing business. The combined publishing business will retain the Random House name.
A price was not disclosed.
sponsored Jargon is confusing, by definition. And the financial world has its own set of cryptic words.