Deal Snapshot
ViacomCBS to Sell Publisher Simon and Schuster to Penguin Random House for USD 2.175bn in Cash
Friday 27 November 2020

US-based media company ViacomCBS Inc. (NASDAQ: VIAC) has entered into a definitive agreement to sell the publishing business Simon and Schuster to Bertelsmann SE and Co. KGaA's Penguin Random House LLC subsidiary for USD 2.175bn in cash, the company said.

This divesture follows a strategic review of non-core assets ViacomCBS undertook early in 2020. Proceeds from the transaction will be used to invest in ViacomCBS's strategic growth priorities, including in streaming, as well as to fund the dividend and pay down debt.

Date Published: 27/11/2020