Penguin-Random House deal backed by EU

The proposed merger of Penguin and Random House that will create the world’s largest book publisher has been given the green light by the EU’s competition watchdog.

The deal will bring classics like George Orwell’s 1984 and the recent literary phenomenon Fifty Shades of Grey by E.L. James under one umbrella. The merged publisher Penguin Random House is set to control about a quarter of the world’s consumer book market.