A 90 per cent chunk of Virgin Books has been acquired by Random House UK. According to Booktrade.Info, the deal “gives the company worldwide use of the Virgin brand in the field of book, audio and digital publishing.”
Not strictly part of the Random/Virgin deal, but announced at the same time, Virgin founder, Sir Richard Branson, will pen five new books for the new Random imprint. According to The Independent, Branson will receive over one million £ for his literary stylings:
The 56-year-old entrepreneur, who published an autobiography called Losing My Virginity in 1999 and a business book, Screw It, Let’s Do It, last year, is to deliver the new books over the next five years. Work is under way on a couple of the books. Sir Richard, who is dyslexic, will receive royalties on top of the seven-figure advance.