On Monday afternoon after the close of the stock market in the US, Paramount Global confirmed in an SEC filing that they have terminated the agreement to sell Simon & Schuster to Bertelsmann, following the enjoining of the sale on antitrust grounds by Judge Florence Pan. The company says, “On November 21, 2022, Paramount terminated the Purchase Agreement in accordance with its terms. Penguin Random House is obligated to pay a $200 million termination fee to Paramount.” Regarding the status of Simon & Schuster within Paramount, as it heads to record results for the year, Paramount reiterates its previous position: […]
