Penguin Random House is one of the leading book publishing companies in the world. It comes under German media giant Bertelsmann.

Simon & Schuster is a publishing house in the US, owned by ViacomCBS. It will be sold to Penguin Random House.

The deal is expected to cost around US$2.175 billion and is expected to be completed next year after all official work is completed.

Penguin Random House is the biggest publishing house in the US while Simon & Schuster is the third biggest publishing house. Simon & Schuster publishes books of bestselling authors such as Stephen King and Doris Kearns Goodwin.

With this acquisition, Penguin will become a book industry supergiant. It will give them more power when dealing with online sellers such as Amazon.

However, critics of such deals worry that such big and powerful companies in publishing will give less power to authors.

Other famous big publishing houses include Hachette Livre, HarperCollins and Macmillan Publishers.

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