RTTNews | Nov 25, 2020 12:06AM EST

00:06 Wednesday, November 25, 2020 (RTTNews.com) - ViacomCBS Inc. (VIAC, VIACA) is nearing a deal to sell its book publishing business Simon & Schuster to German media giant Bertelsmann AG, which owns Penguin Random House, in more than $2 billion deal, according to The Financial Times.

A deal could be announced as soon as this week. As per reports, News Corp.'s HarperCollins and French media company Vivendi SA are also in the race to buy Simon & Schuster.

Bertelsmann earlier has stated its plans for Penguin Random House unit to grow organically and through M&A. If succeeding, the acquisition of Simon & Schuster is expected to make Bertelsmann the world's biggest book publisher.

Read the original article on RTTNews ( https://www.rttnews.com/3148526/viacomcbs-nearing-sale-of-simon-schuster-to-germany-s-bertelsmann.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved