Bertelsmann to Buy Simon & Schuster for $2.1 Billion in Cash
German media giant Bertelsmann has set a deal with ViacomCBS to acquire publishing unit Simon & Schuster for $2.17 billion in cash.
Bertelsmann, owner of publishing giant Penguin Random House, was seen as a logical contender for Simon & Schuster. ViacomCBS announced its intent to sell the publishing arm last year as part of the company’s post-merger streamlining to focus on content investment.
More to come