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Sunday | January 17 | 2021

Bertelsmann to pay $ 2.175 billion in cash for Simon & Schuster

Bertelsmann will pay $ 2.175 billion in cash for the acquisition of the American publishing house Simon & Schuster from ViacomCBS.

Bertelsmann, founded 185 years ago, offered more than News Corp. to acquire Simon & Schuster, which published authors such as Dan Brown, Hillary Clinton and Stephen King.

The transaction keeps Bertelsmann’s position as a world leader in the field of book sales, Reuters reports.

Simon & Schuster had revenues of $ 814 million last year and 1,500 employees. The transaction is expected to be completed in 2021, subject to regulatory approval.

It is the second major transaction made by general manager Thomas Rabe, after less than a year ago Bertelsmann acquired Penguin Random House publishing house.

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