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Simon and Schuster (1)

Simon and Schuster is a publishing company owned by ViacomCBS. The company is named after its two founders: Ricard L. Simon and M. Lincoln Schuster and was founded in 1924. Much like the big five major studios, Simon and Schuster is part of the big five publishing companies.

On March 4, ViacomCBS put the publishing company on sale. Bob Bakish stated that the company is an unnecessary asset and doesn't pose any significance to ViacomCBS. On November 25, Penguin Random House was currently in the process of buying Simon and Schuster for $2.175 billion dollars. The deal is expected to close in 2021 which is pending approval.

As of November 2021 however, the U.S government has filed an antitrust suit to prevent ViacomCBS from selling the company to Penguin Random House. The government states that selling Simon and Schuster would be harmful to best-selling titles and to ensure fair competition.

In 2022, the United States Department of Justice filed a civil antitrust lawsuit to block Penguin Random House's proposed acquisition of Simon & Schuster. The lawsuit argues that the acquisition would create a publisher with too much influence over books and author payments. A federal judge sided with the plaintiff, leading Paramount to nullify the deal in November 2022. Simon & Schuster employee Filippo Bernardini was arrested for the 2016–2021 literary phishing thefts. The company released a statement saying they were "shocked and horrified to learn today of the allegations of fraud and identity theft by an employee.

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