There are a lot of thinly-formed hot takes following Judge Florence Pan’s ruling Monday blocking Penguin Random House’s planned acquisition of Simon & Schuster for $2.175 billion, but the WSJ points directly to what is likely the most important next step: Will S&S parent company Paramount Global agree to give Bertelsmann more time to await an appeal, or has the clock run out? The original purchase agreement was executed on November 24, 2020, and the common inference based on vague sources is that the contract had a two-year term. (A couple of people, including the WSJ, have mentioned November 21 […]
