Australian independent publishing stalwart Text acquired by global giant Penguin Random House

Local publishing house says it will retain creative control' and no redundancies are planned for Melbourne office

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The world's largest general book publisher has acquired one of Australia's leading independent publishers, the Text Publishing Company.

Penguin Random House announced the acquisition on Wednesday, with the chief executive of its Australian operations, Julie Burland, saying the move consolidated the publishing house's longstanding relationship, where its Australian arm distributes and sells all of Text's titles in the Australian and New Zealand markets.

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