News Corp 'may try to buy Penguin'

Press Association
Rupert Murdoch
Rupert Murdoch

HarperCollins owner News Corporation is reportedly readying a £1 billion offer for Penguin in an attempt to scupper plans for a new publishing giant.

News Corp, whose chairman and chief executive is Rupert Murdoch, is thought to have indicated to Penguin's owner Pearson that it will make a substantial cash offer for the publisher which accounts for around 12% of British book sales.