Paramount Global Ends Deal to Sell Publisher Simon & Schuster to Penguin Random House

From a Wall Street Journal story by Jeffrey A. Trachtenberg headlined “Paramount Global Terminates Deal to Sell Publisher Simon & Schuster to Rival Penguin Random House”:

Paramount Global, which owns the Simon & Schuster book-publishing unit, said in a federal filing Monday that it has terminated its agreement to sell Simon & Schuster to rival Penguin Random House.

Paramount said that Simon & Schuster “remains a non-core asset” and that the publisher “does not fit strategically within Paramount’s broader portfolio,” suggesting Simon & Schuster eventually will go back on the sales block.