Paramount scraps $2.2bn sale of Simon & Schuster publishing to Penguin

Penguin owner Bertelsmann will not appeal US judge’s ruling that merger would be illegal because it would hit authors’ payPenguin Random House, the world’s largest book publisher, and rival Simon & Schuster have scrapped a $2.2bn deal to merge, Penguin’s owner said in a statement on Monday.Bertelsmann, a German media group which owns Penguin, initially said it would appeal a US judge’s decision that said its purchase of Simon & Schuster would be illegal because it would hit authors’ pay. Continue reading... Continue reading at 'The Guardian'

[ The Guardian | 2022-11-21 22:41:38 UTC ]
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Other news stories related to: "Paramount scraps $2.2bn sale of Simon & Schuster publishing to Penguin"

The Merger of Penguin Random House and Simon & Schuster Is Dead in the Water

S&S has decided not to extend the deal's deadline, which prevents PRH from appealing the court's decision to block the merger. Continue reading at Book Riot

[ Book Riot | 2022-11-21 14:58:02 UTC ]
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Simon & Schuster and Penguin Random House Deal on the Verge of Collapse

Penguin Random House’s agreement to buy Simon & Schuster is set to fall through. Simon & Schuster’s parent company decided not to extend it after a judge blocked the purchase. Continue reading at The New York Times

[ The New York Times | 2022-11-21 02:56:51 UTC ]
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A Merger Between Penguin Random House and Simon & Schuster Was Blocked, but Brought the Industry Little Clarity

The uncertainty comes at a time when publishing is facing slumping sales after a pandemic boom, and fears of recession. Continue reading at The New York Times

[ The New York Times | 2022-11-01 22:14:42 UTC ]
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Court Blocks Merger of Penguin Random House and Simon & Schuster

A Federal Court has blocked Penguin Random House's acquisition of one of its main rivals, Simon & Schuster. Continue reading at Book Riot

[ Book Riot | 2022-11-01 16:06:02 UTC ]
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Penguin Random House’s Bid to Acquire Simon & Schuster Blocked by Judge

The government’s case blocked the merger of two of the United States’ largest publishers and reflected a more aggressive approach to curbing consolidation. It was closely watched by the publishing industry. Continue reading at The New York Times

[ The New York Times | 2022-11-01 01:28:52 UTC ]
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Judge blocks Penguin Random House takeover of Simon & Schuster

Biden administration receives a clear victory, with the judge ruling the blockbuster merger would diminish competition in book publishing. Continue reading at Los Angeles Times

[ Los Angeles Times | 2022-11-01 00:51:06 UTC ]
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Penguin Random House’s C.E.O. Defends Bid to Buy Simon & Schuster

Madeline McIntosh argued that the publishing industry extends far beyond its biggest players, and that the government has focused on a tiny sliver of deals. Continue reading at The New York Times

[ The New York Times | 2022-08-15 22:30:20 UTC ]
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Penguin Random House, Simon & Schuster file withering response to DOJ antitrust suit

Penguin Random House and Simon & Schuster are putting up a fight against federal efforts to scuttle their merger, alleging the government is wrong. Continue reading at Los Angeles Times

[ Los Angeles Times | 2021-12-13 21:40:35 UTC ]
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Penguin Random House Defends Effort to Buy Simon & Schuster

The Biden administration has challenged the deal over concerns it would harm authors, but the publisher said that argument is a misunderstanding of how the book industry works. Continue reading at The New York Times

[ The New York Times | 2021-12-13 17:21:52 UTC ]
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Justice Dept. Sues Penguin Random House Over Simon & Schuster Deal

The Biden administration’s rejection of the proposed $2.18 billion publishing merger reflects a changing atmosphere in Washington toward consolidation. Continue reading at The New York Times

[ The New York Times | 2021-11-02 21:41:37 UTC ]
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Justice Department Sues to Block Penguin Random House Acquisition of Simon & Schuster

The Department of Justice sues to block the acquisition of Simon and Schuster from Penguin Random House. Continue reading at Book Riot

[ Book Riot | 2021-11-02 16:56:25 UTC ]
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DOJ sues to block Penguin Random House from merging with Simon & Schuster

Some tech analysts are a bit baffled by the move and, subsequently, the DOJ’s priorities. The Justice Department on Tuesday filed a lawsuit against publisher Penguin Random House that seeks to block its proposed merger with rival Simon & Schuster. It’s one of the Biden administration’s... Continue reading at Fast Company

[ Fast Company | 2021-11-02 14:35:22 UTC ]
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Authors fear the worst if Penguin owner takes over Simon & Schuster

Analysis: if Bertelsmann, owner of Penguin Random House, buys US publisher, writers expect smaller deals and less choice for readersUK watchdog investigates Penguin owner’s Simon & Schuster takeoverJokes circulated online when, in 2013, Penguin and Random House merged: would the new... Continue reading at The Guardian

[ The Guardian | 2021-03-22 23:24:23 UTC ]
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UK watchdog investigates Penguin owner’s Simon & Schuster takeover

CMA says it is considering whether Penguin Random House’s $2bn deal would lessen competitionAuthors fear the worst if Bertelsmann takes over Simon & SchusterThe UK competition watchdog has launched an investigation into Penguin Random House’s $2bn (£1.45bn) takeover of Simon & Schuster,... Continue reading at The Guardian

[ The Guardian | 2021-03-22 09:00:30 UTC ]
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Authors Guild urges DOJ to stop Simon & Schuster and Penguin Random House merger

Several organizations sent a letter to the Department of Justice on Friday urging it to stop Penguin Random House from purchasing Simon & Schuster. Continue reading at Los Angeles Times

[ Los Angeles Times | 2021-01-29 22:12:00 UTC ]
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Josh Hawley finds new publisher after Simon & Schuster cancels book

Simon & Schuster severed ties with senator after Capitol attackPublisher distributes titles by conservative imprint RegneryThe rightwing Missouri senator Josh Hawley has found a publisher for a book dropped by Simon & Schuster over his role in attempting to overturn the US election on... Continue reading at The Guardian

[ The Guardian | 2021-01-18 16:02:10 UTC ]
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Penguin Random House to Buy Simon & Schuster

ViacomCBS agreed to sell the 96-year-old company in a deal that potentially creates a megapublisher. Continue reading at The New York Times

[ The New York Times | 2020-11-25 17:08:27 UTC ]
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PRH owner Bertelsmann to buy Simon & Schuster in $2bn deal

German media firm, already owner of the giant Penguin Random House, says acquisition of another major publisher is ‘approvable’ within monopoly rulesGerman media group Bertelsmann is set to acquire publisher Simon & Schuster for $2.17bn, less than a year after it took control of Penguin... Continue reading at The Guardian

[ The Guardian | 2020-11-25 16:55:32 UTC ]
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