PRH/S&S Merger Doomed
The proposed merger between Penguin Random House and Simon & Schuster has unraveled. On November 22, 2022, S&S parent Paramount Global filed with the SEC and confirmed they were terminating the agreement. Paramount is entitled to a termination fee of $200 million.
PRH parent company Berteslmann issued a press release that says, “Bertelsmann will advance the growth of its global book publishing business without the previously planned merger of Penguin ...Read MoreRead more