The Wall Street Journal: Paramount terminates agreement to sell Simon & Schuster to Penguin

Paramount Global, which owns the Simon & Schuster book-publishing unit, said in a federal filing Monday that it has terminated its agreement to sell Simon & Schuster to rival Penguin Random House. 

Paramount
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said that Simon & Schuster “remains a non-core asset” and that the publisher “does not fit strategically within Paramount’s broader portfolio,” suggesting Simon & Schuster eventually will go back on the sales block.

This post was originally published on MarketWatch

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