Attorneys for Penguin Random House and ViacomCBS argued on Monday that the proposed sale of Simon & Schuster will benefit authors, and should not be blocked under federal antitrust law. The Dep…
argued on Monday that the proposed sale of Simon & Schuster will benefit authors, and should not be blocked under federal antitrust law., seeking to block ViacomCBS from selling Simon & Schuster to Bertelsmann, the parent of Penguin Random House, in a $2.1 billion transaction.
In a formal answer filed in court on Monday, the companies argued that the deal is actually “pro competitive” and should be approved. ViacomCBS and Bertelsmann announced the deal in November 2020, but it has been delayed due to the DOJ review. ViacomCBS is looking to spin off an asset it acquired in 1994, as part of its acquisition of Paramount Communications.
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