Penguin Random House Argues That Its Acquisition of Simon & Schuster Will Be 'Pro Competitive'

After the purchase, Simon & Schuster would continue as a separate publishing unit under the Penguin Random House umbrella.

Entertainment news source Variety reported on Monday that Penguin Random House and ViacomCBS’s attorneys argued in court that Penguin Random House’s proposed acquisition of Simon & Schuster will benefit authors and be “pro competitive,” adding that it should not be blocked under federal antitrust law.

ViacomCBS announced in November 2020 that it had agreed to sell the publishing business Simon & Schuster to Penguin Random House LLC, a wholly owned subsidiary of Bertelsmann SE & Co. KGaA, for US$2.175 billion.