Bertelsmann, owner of Penguin Random House, is buying Simon & Schuster from ViacomCBS and will make it part of PRH, the company announced. The deal should close in the second half of next year, subject to the usual closing procedures as well as regulatory approval. The deal is reportedly for more than $2 billion. PRH is the largest trade book publisher in the world, and both it and S&S have substantial distribution operations.
