Bertelsmann to buy US publisher Simon & Schuster for over $2bn
The deal represents the second major move in CEO Thomas Rabe’s drive to consolidate Bertelsmann as the world’s biggest bookseller
25 November 2020 - 17:35
Berlin — German media group Bertelsmann said on Wednesday it would purchase publisher Simon & Schuster for $2.175bn in cash from ViacomCBS, strengthening its presence in the US, its second-largest market.
Bertelsmann outbid Rupert Murdoch’s News Corp in a contest for the publisher of Dan Brown, Hillary Clinton and Stephen King that Viacom put up for sale in 2020, to refocus on its online and advertising operations...
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