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Penguin Random House-Simon & Schuster Deal Collapses, Breaking Pattern in Publishing


Among its successes are several novels by Colleen Hoover, who has dominated the fiction best seller lists, and a surprise best-selling memoir, “I’m Glad My Mom Died,” by Jennette McCurdy, which has sold a million copies since it was published in August, the company said.“Simon & Schuster has never been more profitable and valuable than it is today,” Jonathan Karp, the chief executive of Simon & Schuster, said in a letter to employees on Monday. “As I have noted before, we will be celebrating our 100th anniversary in April of 2024, regardless of who our owner is — and we will have much to celebrate.”In a statement released Monday afternoon, Paramount indicated that it views Simon & Schuster as not a good fit for its broader strategy. “Simon & Schuster is a highly valuable business with a recent record of stro …

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