Regulators probe Penguin's $2.2B takeover of Simon & Schuster
March 23, 2021
The UK's Competition and Markets Authority has launched an investigation of Penguin Random House's $2.2 billion purchase of Simon & Schuster from ViacomCBS. The deal, announced last November, triggered antitrust concerns as it would see the world's largest bookseller take over another of the five major mainstream publishers. The UK competition watchdog has set a May 19 deadline for its phase 1 decision on the merger.