In November, Penguin Random House’s acquisition of Simon & Schuster was blocked by a federal court docket ruling. PRH determined to not attraction the choice. Since then, the destiny of the writer has been up within the air, particularly since Paramount Global, its guardian firm, has said it “does not fit strategically within Paramount’s broader portfolio” and that they don’t seem to be serious about retaining it.
Today, Paramount Global has introduced that Simon & Schuster is up for sale as soon as once more. They are presently “explor[ing] a sale of Simon & Schuster that could value it between $2 billion and $2.5 billion,” in keeping with a Reuters information story, although the deal is nonetheless in early talks. The unique PRH sale was for $2.2 billion.
Paramount might be looking for out personal fairness companies, to keep away from working into the identical issues they confronted with the Penguin Random House deal, although they’re not ruling out the potential for one other competitor like Hachette or HarperCollins taking the danger and making a suggestion.
Read extra about this story at Reuters.
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