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Nothing Random about publisher's new strategy ;Bertelsmann takes fewer risks, reaps profits.(Random House)
Crain's New York Business, October, 1999 by Block, Valerie
Dutch: A Memoir of Ronald Reagan has kicked up a storm of controversy over author Edmund Morris' dubious technique of mixing fact with fiction. Despite the fracas, the book debuted at No. 2 on the New York Times best-seller list on Sunday. A potential embarrassment is instead another triumph for publisher Random House Inc.
Since German media conglomerate Bertelsmann AG bought Random House and merged it with its Bantam Doubleday Dell book operations, the company has had more than its share of successes. In its first fiscal year, ended June 30, the new Random House notched up an astounding 157 books on the best-seller list, had 32 books sell more than 1 million units, and generated $1.6 billion in revenues, surpassing the company's expectations. Auspicious...
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