The New Paper

November 27, 2020

Penguin Random House announces acquisition of Simon & Schuster

Penguin Random House announced plans to acquire rival book publisher Simon & Schuster for $2B. If completed, the acquisition would solidify Penguin Random House as the largest book publisher in the US, with the combined company controlling an estimated 34% of the print book market. The transaction is expected to close in 2021, subject to regulatory approval.

More context: Penguin Random House (owned by German media conglomerate Bertelsmann) and Simon & Schuster are two of the “Big Five” US publishers. The companies represent notable authors including Stephen King, Dan Brown, and John Grisham.

This story is from the November 27, 2020 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.