Connect with us

Business

ViacomCBS sells Simon & Schuster to Penguin Random House for $2 billion – CNBC

ViacomCBS announced Wednesday that it would sell publishing company Simon & Schuster to Penguin Random House in a deal worth $2.175 billion.

Published

on

ADVERTISEMENT

ViacomCBS announced Wednesday that it would sell publishing company Simon & Schuster to Penguin Random House, a subsidiary of Bertelsmann, in a deal worth nearly $2.18 billion
The transaction is expected to close in 2021.
The deal comes after ViacomCBS put the global publisher up for auction, a move it made to divest non-core assets from its company. Proceeds from the deal will be put toward ViacomCBS’s streaming business, fund its dividend and pay down debt. The company also recently sold CNET…

Click here to view the original article.

Continue Reading
Advertisement

You might also like ...

post featured image
Raleigh police: No danger in grenade found in E. Cabarrus St. yard – WRAL.com
post featured image
5 things I learned status matching from American to Delta during the pandemic – The Points Guy
post featured image
Fauci: Joe Biden’s 100 million COVID-19 shots pledge means doses, not people – New York Post