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Home Business News ViacomCBS to Sell Simon & Schuster to Penguin Random House for $2.175...

ViacomCBS to Sell Simon & Schuster to Penguin Random House for $2.175 Billion


NEW YORK–()–ViacomCBS Inc. (NASDAQ: VIAC, VIACA) today announced it has entered into a definitive agreement to sell the publishing business Simon & Schuster (“Simon & Schuster”) to Penguin Random House LLC (“Penguin Random House”), a wholly owned subsidiary of Bertelsmann SE & Co. KGaA, for $2.175 billion in cash.

This divesture follows a strategic review of non-core assets ViacomCBS undertook early in 2020. Proceeds from the transaction will be used to invest in ViacomCBS’s strategic growth priorities, including in streaming, as well as to fund the dividend and pay down debt.

This transaction is the outcome of a highly competitive auction that attracted interest from buyers around the world,…



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