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The top five U.S. publishers are Penguin, HarperCollins, Macmillan, Simon & Schuster and Hachette. Following a collapse of the deal, Paramount will be free to explore a sale of Simon & Schuster anew. Previously known as ViacomCBS, Paramount had inked the Penguin deal so it could focus on its video and streaming businesses. HarperCollins, which is controlled by News Corp (NWSA.O), and Lagardere SCA's (LAGA.PA) Hachette Book Group have previously expressed interest publicly in buying Simon & Schuster. HarperCollins also unsuccessfully bid for Simon & Schuster when it was put up for sale by Paramount in early 2020.
WASHINGTON, Nov 7 (Reuters) - A U.S. judge cited negative impacts on top-selling authors in blocking a planned $2.2 billion merger of Penguin Random House, the world's largest book publisher, and rival Simon & Schuster, according to a written opinion released Monday. Penguin is owned by German media group Bertelsmann SE & Co (BTGGg.F) while Paramount Global (PARA.O) owns Simon & Schuster. Pan said those best-selling authors "have fewer outlets that can satisfy their requirements, and therefore are vulnerable to anticompetitive behavior." Penguin writers include cookbook author Ina Garten and novelists Zadie Smith and Danielle Steele, while Simon & Schuster publishes Stephen King, Jennifer Weiner and Hillary Rodham Clinton, among others. The top five publishers are Penguin Random House, HarperCollins, Macmillan, Simon & Schuster and Hachette, with Walt Disney Co (DIS.N) and Amazon.com Inc (AMZN.O) also in the market.
WASHINGTON, Oct 31 (Reuters) - A planned $2.2 billion merger of Penguin Random House, the world's largest book publisher, and rival Simon & Schuster cannot go forward, a U.S. judge ruled on Monday. Unlike most merger fights, which are focused on what consumers pay, this one focused on authors' earnings. Penguin writers include cookbook author Ina Garten and novelists Zadie Smith and Danielle Steele, while Simon & Schuster publishes Stephen King, Jennifer Weiner and Hillary Rodham Clinton, among others. Penguin is owned by German media group Bertelsmann SE & Co (BTGGg.F) while Paramount Global (PARA.O) owns Simon & Schuster. The top five publishers are Penguin Random House, HarperCollins, Macmillan, Simon & Schuster and Hachette, with Walt Disney Co (DIS.N) and Amazon.com Inc (AMZN.O) also in the market.
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