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BUSINESS; Simon & Schuster to be sold for $2 billion; The Penguin Random House deal to create a publishing industry supergiant could face antitrust hurdles.

Nov 26, 2020 - Los Angeles Times
Mergers and Acquisitions

A forthcoming publishing deal between literary giants Simon & Schuster and Penguin Random House is sure to be one for the books.

On Wednesday, ViacomCBS announced plans to sell Simon & Schuster to Bertelsmann's Penguin Random House for a whopping $2.18 billion. The merger, set to be finalized in 2021, will see S&S continue to operate independently as part of the Penguin Random House publishing empire.

"In March, when ViacomCBS announced its plan to sell Simon & Schuster, we did not k...