Bertelsmann's Penguin division snaps up Simon & Schuster

Posted 11/25/20

BERLIN (AP) — 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 …

To Our Valued Readers –

Visitors to our website will be limited to five stories per month unless they opt to subscribe.

For $5.99, less than 20 cents a day, subscribers will receive unlimited access to the website, including access to our Daily Independent e-edition, which features Arizona-specific journalism and items you can’t find in our community print products, such as weather reports, comics, crossword puzzles, advice columns and so much more six days a week.

Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.

Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.

Sincerely,
Charlene Bisson, Publisher, Independent Newsmedia

Please log in to continue

Log in
I am anchor

Bertelsmann's Penguin division snaps up Simon & Schuster

Posted

BERLIN (AP) — 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 U.S., 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, it said.

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.

Comments