Penguin Random House has announced plans to purchase Simon & Schuster from ViacomCBS for $2.175 billion in an all-cash deal. ViacomCBS had reportedly hoped to sell S&S for at least $1.2 billion. S&S had $814 million in sales in 2019 and $823 million in 2018.
The company was initially offered for sale in March 2020, but plans were put on hold when the coronavirus pandemic hit. After the S&S acquisition ...Read More