ViacomCBS Sale of Penguin House Blocked by Justice Department (with Five Documents)

Organic growth will be the name of the game for ViacomCBS, according to Reuter’s Dawn Chmielewski who interviewed the media empire’s chair, Shari Redstone. Recently, ViacombCBS made a move to sell Penguin House to Simon & Schuster, only to be sued by the Justice Department to block the proposed merger. While that particular corporate consolidation may be tied up for a long time, ViacomCBS appears ready and waiting for more expansion via new deals.

“ViacomCBS, with its $20.1 billion market valuation, is one-tenth the size of the Walt Disney Co,” wrote Chmielewski, adding, “as media conglomerates have raced to bulk up to amass content for subscriptions and advertising-supported streaming video services, the company’s relatively smaller scale has spurred speculation that Redstone would seek another deal.”

The mass media company has a hand in both the creation and the distribution of content around the world through a variety of segments including local media, entertainment, cable networks, and as mentioned earlier, publishing. Founded in 1986 in New York by Sumner Redstone. The company now includes all things CBS (the television network, domestic, and international studios, distribution, interactive, and film as well as the digital streaming services CBS All Access, and CNBC. On the cable side, ViacomCBS owns Showtime, Smithsonian Networks, and CBS Sports Networks.

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Here are some documents relating to ViacomCBS currently available on RealDealDocs:

Viacomcbs To Sell Simon & Schuster To Penguin Random House For $2.175 Billion

Between Design Works and Penguin Random House Publisher Services

ViacomCBS Inc.

Sources