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Penguin Random House revenue decreased by 9.6% in 2016. Though audiobooks sales, according to Bertelsmann, owner of a 53% stake in the company, remained strong, both e-book and print sales saw a decline.
In recent months, Bertelsmann has indicated an interest in increasing its stake in PRH to between 70% and 75%--an announcement that came shortly after Pearson PLC made a decision to sell its 47% stake in the company. Bertelsmann has said this is still the plan.
PRH's news comes at a time of many reports demonstrating a waning e-book market. According to the Association of American Publishers last month, adult trade e-book sales were down 16.9% industry-wide in the first quarter of 2016. In the UK, Nielsen found that e-book sales declined 4% in 2016.