Penguin Random House-Simon & Schuster merger: Explaining the billion-dollar deal and how Stephen King got involved

Penguin Random House-Simon & Schuster merger: Explaining the billion-dollar deal and how Stephen King got involved

Penguin Random House-Simon & Schuster merger: Explaining the billion-dollar deal and how Stephen King got involvedBy Jessica Riga It's a story that's got the makings of a best-seller — a billion-dollar deal, a court battle, and an endorsement from the King of Horror. Penguin Random House, a publishing titan, is hoping to buy its rival Simon & Schuster in a mega-deal that would reshape the publishing industry. But the Biden administration has sought to intervene through the US courts, with the Department of Justice (DOJ) suing to block the merger from happening. Let's get you up to speed on the court case that's gripping the publishing industry. What's the story? In 2020, German media giant Bertelsmann announced its plan for its Penguin Random House division to buy fellow publishing giant …
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