Penguin Scraps $2.2bn Deal to Buy Rival Publisher
Publishing giant Penguin Random House has scrapped a $2.2bn (£1.9bn) planned takeover of rival Simon & Schuster. As reported by the BBC, last month, a US court blocked the deal, saying it could “substantially” weaken competition in the industry. Penguin’s parent company Bertelsmann said Paramount Global, the owner of Simon & Schuster, decided not to…