The parent of Simon & Schuster closes the door on an appeal, ending the Bertelsmann/PRH attempt to acquire Simon & Schuster.
In the United States, Judge Pan rules against the merger of trade book publishers Penguin Random House and Simon & Schuster.
The United States’ Department of Justice is suing to block the Penguin Random House-Simon & Schuster merger deal struck in late 2020.
Penguin Random House parent company Bertelsmann will acquire Simon & Schuster. If the sale is approved by regulators, the Big Five will become the the Big Four.
The chatter is getting louder around the Simon & Schuster sale story, with News Corp arriving as another name associated with the process.
ViacomCBS is expected to reactivate the sale process for Simon & Schuster this month, and Bertelsmann’s chief says he’s interested.
Simon & Schuster’s chief Carolyn Reidy tells the staff in a memo that its parent company, ViacomCBS, will be exploring potential sales of the Big Five publishing house.