Germany’s Bertelsmann to buy Simon & Schuster in $2.17 billion cash deal

Édité par Ed Newman
2020-11-26 16:46:11

Pinterest
Telegram
Linkedin
WhatsApp

Bertelsmann, which also owns broadcast, music and online businesses, said it would buy publisher Simon & Schuster.  (Photo: Michael Sohn / AP)

Berlin, November 26 (RHC)-- German media giant Bertelsmann said Wednesday that it is buying publisher Simon & Schuster from ViacomCBS for $2.17 billion in cash.  Bertelsmann says the New York-based firm, whose authors include Stephen King, Hillary Clinton and John Irving, will become a unit within its book-publishing division Penguin Random House.

“Simon & Schuster strengthens Bertelsmann’s footprint globally, and particular in the United States, its second-largest market,” the Guetersloh-based company said in a statement.  The transaction is subject to regulatory approval and is expected to close during 2021.

Bertelsmann said Simon & Schuster’s current president and chief executive, Jonathan Karp, will continue to lead the publishing house.  Bertelsmann, which was founded in 1835 and also owns a broad portfolio of broadcast, music and online businesses, has been the sole owner of Penguin Random House since April.


 



Commentaires


Laissez un commentaire
Tous les champs sont requis
Votre commentaire ne sera pas publié
captcha challenge
up