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entertainment

ViacomCBS Sells Simon & Schuster to Bertelsmann

By
Martin Peers
· · Source: The Information

ViacomCBS is to sell the Simon & Schuster book publisher to Bertelsmann’s Penguin Random House for $2.175 billion in cash, a step towards ViacomCBS’ effort to slim down its debt. Bertelsmann’s bid, which beat out reported offers from rivals such as News Corp., was a rich offer, as News Corp CEO Robert Thomson quickly made clear. In a statement, he said “there is clearly no market logic to...

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