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DOJ Sues to Block Bertelsmann’s Acquisition of Simon & Schuster From ViacomCBS

By
Martin Peers
· · Source: The Information

The Justice Department sued to block Bertelsmann’s Penguin Random House’s proposed $2.175 billion purchase of Simon & Schuster from ViacomCBS, delaying one of the entertainment company’s moves to reduce its debt. The DOJ noted that Penguin Random House is the biggest book publisher, while Simon & Schuster is the fourth biggest in the U.S. their combined revenues would be “twice that of...

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