Penguin Random House to Open Branch in Singapore

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Category: Business

Listening

Unlocking Word Meanings

Read the following words/expressions found in today’s article.

  1. slated for / sleɪtəd fɚ / (phrasal) –  to be scheduled to take place
    Example:

    The author’s new book is slated for a 2019 release.


  2. run the show / rʌn ðə ʃoʊ / (idiom) – to be in control of something
    Example:

    Mark was promoted to run the show in the company’s new branch because of his five-year managerial experience.


  3. genre / ˈʒɑːnrə / (n) – a certain section or category of an art form
    Example:

    Comedy is my favorite movie genre.


  4. portfolio / poɚtˈfoʊliˌoʊ / (n) –  a collection of works that show someone’s skills and achievements
    Example:

    The photographer brought an impressive portfolio of his latest works.


  5. distinguished / dɪˈstɪŋgwɪʃt / (adj) – respected by many people because of achievements
    Example:

    The works of the distinguished painter are displayed at the museum.


Article

Read the text below.

Multinational publishing company Penguin Random House (PRH) will establish a Southeast Asian branch in Singapore.


PRH is the world’s largest book publisher that produces more than 15,000 print and 70,000 digital books every year. It is headquartered in New York and has branches in other countries like England, Australia, and India.


The opening of PRH’s Singapore branch is slated for 2019. The branch will be called Penguin Books Singapore and is expected to initially release about 50 print and digital books. Through its new branch, PRH hopes to support authors in Southeast Asia, particularly in Brunei, Indonesia, Myanmar, the Philippines, Thailand, Vietnam, and Singapore.


PRH India CEO Gaurav Shrinagesh [GUH-ruh-v Shree-NAH-geysh] was appointed to run the show in the Singapore branch. His first action plan is to understand the local market, including what genres and topics are popular in the region. He aims to make these trends known in the international market.


According to Shrinagesh, the opening of Penguin Books Singapore would help expand the company’s audience reach and portfolio. This is because the country showcases a wide variety of Asian and Western literature.


In addition to expanding in Southeast Asia, PRH also made a move to develop its local-language publishing program. In June, PRH India acquired Hind Pocket Books, one of the pioneers in Hindi-language publishing in India. It publishes books written by some of India’s most distinguished authors.


Markus Dohle, CEO of PRH worldwide, said that the acquisition is the company’s strategy to improve operations in India, which is one of PRH’s key markets.


Viewpoint Discussion

Enjoy a discussion with your tutor.

Discussion A

• Do you think PRH made a good move to establish its Southeast Asian branch in Singapore? Why or why not?
• If PRH were to expand into your country, do you think it will be successful? Explain.

Discussion B

• Would you consider the publishing business to be profitable at this day and age? Why or why not?
• What strategies can publishing companies employ to sustain their businesses? Discuss.