Paramount announced it will no longer sell Simon & Schuster to Penguin Random House after a judge blocked the proposed $2.2 billion merger of the two publishing houses over antitrust concerns.
Penguin Random House must pay a $200 million termination fee.
Penguin Random House issued a separate statement Monday saying it had "planned to appeal" the judge's October ruling but must "accept Paramount’s decision not to move forward.""This news is still fresh, and at this point I have no specific information to impart about what will happen in the coming months.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Simon & Schuster to let sale to Penguin fall apart, sources sayBook-publishing powerhouse Simon & Schuster will let its $2.2 billion sale to Penguin Random House collapse on Monday, opening the door for a new suitor to try to clinch a deal, according to people familiar with the matter.
Read more »
Simon & Schuster's owner to let sale to Penguin fall apart, sources sayBook-publishing powerhouse Simon & Schuster's owner will let its $2.2 billion sale to Penguin Random House collapse on Monday, opening the door for a new suitor to try to clinch a deal, according to people familiar with the matter.
Read more »
Community-Building Musician Ruthie Foster Honored with Star Outside the ParamountFriends, family, and fans of _RuthieFoster_ braved frigid temperatures to celebrate the Grammy-nominated singer-songwriter as she became just the sixth artist inducted into the 'Avenue of Paramount Stars.”
Read more »
Mayor of Kingstown Season 2: Ash Santos Joins Paramount+ Series CastReturning for Season 2 on January 15th, AshSantos (Mike, AmericanHorrorStory) has joined the cast of ParamountPlus' MayorOfKingstown. / JeremyRenner TaylorSheridan
Read more »