With the purchase of Simon & Schuster, Penguin reigns over publishing

Already the owner of Random House, Bertelsmann’s publishing subsidiary will sell a third of the books in the United States.

ViacomCBS has found the buyer for its publishing subsidiary Simon & Schuster. The American media giant (CBS and MTV channels and Paramount film studios) confirmed on Wednesday information from the wall street journal that he entered into exclusive negotiations with Bertelsmann, parent company of Penguin Random House, to sell the New York publisher to him. The German conglomerate, the largest media group in Europe (RTL Group, Grüner + Jahr, BMG) puts 2.18 billion dollars (1.8 billion euros) on the table, significantly more than ViacomCBS expected (1.2 billion). The latter will use the money received to refocus on audiovisual, and in particular its video streaming activities (Showtime, CBS All Access), which are expanding in the wake of Netflix.

World number one

For Penguin Random House, already number one in publishing in the United States and in the world (3.6 billion euros in turnover for a market share estimated at a quarter of world sales), it is the…

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