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MarketScreener Homepage  >  Equities  >  Nasdaq  >  News Corporation    NWSA

NEWS CORPORATION

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Bertelsmann buys Simon & Schuster for $2.2 billion

11/25/2020 | 01:20pm EST

A behemoth in the publishing industry just got a lot bigger.

The owner of Penguin Random House on Wednesday said it will acquire U.S. publisher Simon & Schuster for more than $2 billion in cash.

The German media group Bertelsmann outbid Rupert Murdoch's News Corp in a contest for the publisher of authors Dan Brown, Hillary Clinton and Stephen King that ViacomCBS put up for sale earlier this year.

The deal represents the second major move in CEO Thomas Rabe's drive to consolidate Bertelsmann as the world's biggest bookseller, after the 185-year-old publisher took full control of Penguin Random House less than a year ago.

In a statement Rabe hailed the deal, saying, "We are building our position as one of the leading creative content companies in the United States ... I'm convinced that this a good day both for book publishing and for authors."

Size is important in publishing as bestseller lists become dominated by a handful of blockbusters - such as Penguin Random House's edition of former President Barack Obama's memoir 'A Promised Land'.

Simon & Schuster will remain under the umbrella of the far larger Penguin Random House.

The deal is expected to close during 2021 subject to antitrust approval.


© Reuters 2020
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Financials (USD)
Sales 2021 8 549 M - -
Net income 2021 143 M - -
Net cash 2021 699 M - -
P/E ratio 2021 95,2x
Yield 2021 1,08%
Capitalization 10 907 M 10 907 M -
EV / Sales 2021 1,19x
EV / Sales 2022 1,11x
Nbr of Employees 23 500
Free-Float 73,2%
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Mean consensus HOLD
Number of Analysts 8
Average target price 16,60 $
Last Close Price 18,57 $
Spread / Highest target 18,5%
Spread / Average Target -10,6%
Spread / Lowest Target -46,1%
EPS Revisions
Managers and Directors
NameTitle
Robert James Thomson Chief Executive Officer & Director
Lachlan Keith Murdoch Co-Chairman
Keith Rupert Murdoch Executive Co-Chairman
Susan Lee Panuccio Chief Financial Officer
David Kline Chief Technology Officer & Executive VP
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