Penguin Random House to Purchase Bankrupt F+W Media Assets (1)

Penguin Random House LLC won the right to buy the book business of bankrupt publisher F+W Media, Inc. and its affiliates.

Penguin Random House, a subsidiary of Bertelsmann SE & Co. KGaA, will pay $5.6 million in cash and assume $1.6 million in liabilities, an attorney for F+W Media, Kenneth J. Enos of law firm Young, Conaway, Stargatt & Taylor, LLP, told a court in Wilmington, Del. June 10.

U.S. Bankruptcy Court Judge Kevin Gross said he would grant the motion since no objections were raised.

Penguin Random will buy books targeting hobbyists and collectors. An auction for the book ...