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Acquisition Creating World’s Biggest Book Publisher In The Works

By  |  November 24, 2020

Bertelsmann is in a good position to buy Simon & Schuster, outbidding Rupert Murdoch’s News Corp to strengthen its position as the world’s biggest books publisher, reported the Financial Times.

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    The German owner of Penguin Random House was the highest bid in a fiercely fought auction for the ViacomCBS publishing arm, which fetched a price far in excess of initial estimates. Two people familiar with the process said Bertelsmann offered more than US$2 billion.

    A person close to Mr Murdoch said the octogenarian media tycoon was not willing to top Bertelsmann, as he is convinced the deal will face significant regulatory hurdles, while a deal with News Corp would provide greater certainty of closing.

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