Random House of Canada has acquired sole ownership of storied publisher McClelland & Stewart, which was established in 1906 and existed independently until 2000, when chairman and owner Avie Bennett donated 75% of the company to the University of Toronto and sold 25% to Random House of Canada, Quillblog reported, adding that until yesterday's announcement, M&S "had technically operated as a separate and independent entity."
"We are pleased to note that the needed regulatory approval has been obtained from the responsible authority," Random House of Canada said in a press release. Doug Pepper will remain president and publisher. Ellen Seligman, executive v-p and publisher of fiction, will also continue in her role.
Tundra Books, M&S's children’s imprint, will become the Canadian children's publishing program within Random House of Canada, headed by managing director Alison Morgan and editorial director Tara Walker.
