The Pearson board has ended a 50-year relationship with the sale of its remaining stake in the owner of Penguin Books.
Penguin was founded in 1935 by Allen Lane and is credited with bringing paperback books to a mass audience. It won a significant legal case in 1960 after being sued for publishing the first uncensored English version of Lady Chatterley’s Lover by DH Lawrence. The victory is credited with liberalising the books industry.
Pearson bought Penguin in 1970, taking ownership of all its imprints, including Penguin Classics, Puffin Books and Viking Press.
Months before John Fallon took over as chief executive in 2013, Pearson agreed to merge Penguin with Random House, which was owned by Bertelsmann, the German media company. Pearson was left with
