Pearson and Bertelsmann intend that the combined organisation's level of organic investment in authors and new product models will exceed the total investment of Penguin and Random House as independent publishing houses.

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What goes on inside the organisation, any surpluses or profits, get taxed at the level of the organisation.

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Neelam Aggarwal-Singh, chair of the organisation, said the hall would "offer a level of stability for the organisation and a sense of belonging".

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