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German media giant Bertelsmann booked record profits for 2023, recording a 25 percent jump in group profits to €1.3 billion ($1.43 billion), the company reported on Tuesday. Operating revenue was flat at €20.2 billion ($22.2 billion), just short of the record figure recorded by the company in 2022. Bertelsmann’s one-off sale of its shares in…
“Judge blocks Penguin Random House from merging with Simon & Schuster” A federal judge has blocked the $2.18 billion merger between two book-publishing giants — Penguin Random House and rival Paramount Simon & Schuster — saying the mega-deal would unlawfully reduce competition. On Monday, US District Judge Florence Pan blocked the merger between Bertelsmann’s Penguin…
“#Three suitors still in for Simon & Schuster” Bids for Simon & Schuster are due next week, and there are reportedly three suitors still in the race: News Corp, Bertelsmann and Vivendi. Meanwhile, News Corp CEO Robert Thomson is warning of antitrust concerns if Bertelsmann — already the world’s largest publisher thanks to ownership of…