Penguin Random House strikes deal to buy Simon & Schuster

A deal has been struck that could create the world’s first megapublisher, according to the New York Times.

ViacomCBS has agreed to sell Simon & Schuster (the third-largest publisher) to Penguin Random House (the largest publisher).

The deal, worth over $2 billion, includes protections for Viacom if regulators nix the agreement over antitrust concerns.

If the deal goes through, Penguin Random House will control over 30 percent of the US book market, according to the newspaper.

You can read more on the players and possible consequences of such a merger in the New York Times.

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