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Proposed merger of two publishing giants is officially over

KIFI

By HILLEL ITALIE
AP National Writer

NEW YORK (AP) — Simon & Schuster’s corporate parent has officially ended the agreement for Penguin Random House to purchase the publisher, a proposed merger a federal judge already had blocked early this month. Paramount Global also announced Monday that it still plans to sell Simon & Schuster, a nearly century-old company where authors include Stephen King, Colleen Hoover and Bob Woodward. Penguin Random House, which had planned to appeal the decision, issued a statement Monday saying it would have been “the best home” for Simon & Schuster. “However, we have to accept Paramount’s decision not to move forward,” the publisher’s statement reads.

Article Topic Follows: AP National Business

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