PRH and HarperCollins were indeed the final bidders in the auction, and PRH won the day with a reported bid of $2.2 billion. publisher Simon & Schuster (S&S), will not seek to challenge the. When the merger between PRH and S&S was announced in 2020. Stephanie Frerich is an executive editor and vice president at Simon & Schuster since 2018, acquiring idea-driven, conversation-starting nonfiction on topics such as current events, business and economics, history, narrative nonfiction, popular science, and psychology, and biography/memoir. The Bertelsmann/Penguin Random Houseattempt to acquire Simon & Schusterfor US2. When parent company ViacomCBS put Simon & Schuster up for sale in 2020, the smart money was on another one of the major publishers acquiring the house, and the Big Five becoming the Big Four. : The CMA has cleared the anticipated acquisition by Penguin Random House LLC of the Simon & Schuster book publishing business. Courts Decision to Block Penguin Random House-Simon & Schuster Merger in. PRH: ‘An Unfortunate Setback for Readers and Authors’. Penguin Random House is itself the product of many mergers, with one independent publishing imprint after another joining together to form a massive conglomerate, culminating in the merger of Penguin and Random House in 2013 that brought the then-Big Six down to the Big Five. The Big Five control roughly 80 percent of the trade market for books in the US, and Penguin Random House, with a market share of 25 percent in 2020, is the biggest one of all. The proposed merger between Penguin Random House and Simon & Schuster has attracted the attention of the Justice Department, which is concerned that the 2. Penguin Random House and Simon & Schuster are two members of what’s called the “Big Five” of publishing, with the other three slots filled by HarperCollins, Hachette, and Macmillan.
#Prh simon and schuster trial
Driving the news: After considering the testimonies from the three-week trial in August, a federal judge Monday blocked Penguin Random Houses acquisition of the rival publishing house. Perhaps fittingly for a case with such high stakes, the trial was characterized by obfuscation and downright disinformation nearly the whole way through. Simon & Schusters future is now up in the air, which could open it up to acquisition talks. The result of the trial, which is expected to be decided later this fall, will have a massive impact on both the multibillion-dollar book publishing industry and on how the government handles corporate consolidation going forward.
On August 22, oral arguments ended in the Justice Department’s antitrust trial to block the book publisher Penguin Random House from merging with rival Simon & Schuster.
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