Bertelsmann’s major acquisition finally collapsed

Das business would have Bertelsmann into completely new dimensions in the book market – but the plan to buy the American publishing company Simon & Schuster for 2.2 billion dollars has finally collapsed. First, three weeks ago, the German media group received a red card from the Washington District Court, which prohibited the takeover for antitrust reasons. The Germans then said they were determined to continue fighting and announced an urgent appeal.

But now the takeover object itself has put an end to the project. Paramount, the owner of Simon & Schuster, has allowed an agreed two-year deadline for the sale to expire without extending it, despite requests from Bertelsmann. The company announced on Monday that it had terminated the purchase agreement in accordance with the agreed terms.

This means that an action by Bertelsmann against the cartel decision is now de facto irrelevant, and the Germans gave up. In a statement, they said they wanted to drive future growth in the division “without Simon & Schuster” and that they would not file a lawsuit.

Bertelsmann Group is considered the largest book publisher

The family-owned Bertelsmann Group, with its subsidiary Penguin Random House, is already the largest book publisher in the world. He leads a group of five publishers known in the US as the “Big Five”, which includes Simon & Schuster. With the acquisition, he could have strengthened his position considerably.

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