Paramount scraps deal to sell Simon & Schuster to Penguin after weeks after judge rejected merger
Key Points Paramount Global said Monday it scrapped its $2.2 billion deal to sell book publisher Simon & Schuster to rival Penguin Random House. Th...
Key Points Paramount Global said Monday it scrapped its $2.2 billion deal to sell book publisher Simon & Schuster to rival Penguin Random House. The decision came weeks after a federal judge rejected the merger. Paramount indicated that it would still seek to unload Simon & Schuster. The Penguin logo is visible on the spines of books displayed on a shelf at Book Passage on Nov. 2, 2021 in Corte Madera, California. The U.S. Department of Justice is suing Penguin Random House and Simon & Schuster to block the companies from completing a merger valued at $2.