Bertelsmann to Buy Simon & Schuster for $2.1 Billion in Cash

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.

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