{"id":388597,"date":"2020-11-25T10:19:21","date_gmt":"2020-11-25T15:19:21","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=388597"},"modified":"2020-11-25T10:19:21","modified_gmt":"2020-11-25T15:19:21","slug":"statement-of-robert-thomson-chief-executive-of-news-corp-regarding-the-sale-of-simon-schuster-to-bertelsmann","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/statement-of-robert-thomson-chief-executive-of-news-corp-regarding-the-sale-of-simon-schuster-to-bertelsmann\/","title":{"rendered":"Statement of Robert Thomson, Chief Executive of News Corp, Regarding the Sale of Simon &amp; Schuster to Bertelsmann"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Statement of Robert Thomson, Chief Executive of News Corp, Regarding the Sale of Simon &amp; Schuster to Bertelsmann<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nNews Corp Chief Executive Robert Thomson has commented on ViacomCBS\u2019s announcement regarding the sale of Simon &amp; Schuster to Bertelsmann:\n<\/p>\n<p>\n\u201cThere is clearly no market logic to a bid of that size &#8211; only anti-market logic. Bertelsmann is not just buying a book publisher, but buying market dominance as a book behemoth. Distributors, retailers, authors and readers would be paying for this proposed deal for a very long time to come. This literary leviathan would have 70 percent of the US Literary and General Fiction market. There will certainly be legal books written about this deal, though I wonder if Bertelsmann would publish them.\u201d\n<\/p>\n<p><b>About News Corp<\/b><\/p>\n<p>\nNews Corp (NASDAQ:NWS)(NASDAQ:NWSA)(ASX:NWS)(ASX:NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. The company comprises businesses across a range of media, including: digital real estate services, subscription video services in Australia, news and information services and book publishing. Headquartered in New York, News Corp operates primarily in the United States, Australia, and the United Kingdom, and its content and other products and services are distributed and consumed worldwide. More information is available at: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.newscorp.com&amp;esheet=52336988&amp;newsitemid=20201125005734&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.newscorp.com&amp;index=1&amp;md5=820ce0cc40522423d10862ac8e4dcb0c\">http:\/\/www.newscorp.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201125005734r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201125005734\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201125005734\/en\/<\/a><\/span><\/p>\n<p>\nNews Corp Investor Relations<br \/>\n<br \/>Michael Florin<br \/>\n<br \/>212-416-3363<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:mflorin@newscorp.com\">mflorin@newscorp.com<\/a><\/p>\n<p>\nNews Corp Corporate Communications<br \/>\n<br \/>Jim Kennedy<br \/>\n<br \/>212-416-4064<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:jkennedy@newscorp.com\">jkennedy@newscorp.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> New York United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Communications Publishing Public Relations\/Investor Relations<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201125005734\/en\/375787\/3\/News_Corp_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Statement of Robert Thomson, Chief Executive of News Corp, Regarding the Sale of Simon &amp; Schuster to Bertelsmann NEW YORK&#8211;(BUSINESS WIRE)&#8211; News Corp Chief Executive Robert Thomson has commented on ViacomCBS\u2019s announcement regarding the sale of Simon &amp; Schuster to Bertelsmann: \u201cThere is clearly no market logic to a bid of that size &#8211; only anti-market logic. Bertelsmann is not just buying a book publisher, but buying market dominance as a book behemoth. Distributors, retailers, authors and readers would be paying for this proposed deal for a very long time to come. This literary leviathan would have 70 percent of the US Literary and General Fiction market. There will certainly be legal books written about this deal, though I wonder &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/statement-of-robert-thomson-chief-executive-of-news-corp-regarding-the-sale-of-simon-schuster-to-bertelsmann\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Statement of Robert Thomson, Chief Executive of News Corp, Regarding the Sale of Simon &amp; Schuster to Bertelsmann&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-388597","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Statement of Robert Thomson, Chief Executive of News Corp, Regarding the Sale of Simon &amp; Schuster to Bertelsmann - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/statement-of-robert-thomson-chief-executive-of-news-corp-regarding-the-sale-of-simon-schuster-to-bertelsmann\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Statement of Robert Thomson, Chief Executive of News Corp, Regarding the Sale of Simon &amp; Schuster to Bertelsmann - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Statement of Robert Thomson, Chief Executive of News Corp, Regarding the Sale of Simon &amp; Schuster to Bertelsmann NEW YORK&#8211;(BUSINESS WIRE)&#8211; News Corp Chief Executive Robert Thomson has commented on ViacomCBS\u2019s announcement regarding the sale of Simon &amp; Schuster to Bertelsmann: \u201cThere is clearly no market logic to a bid of that size &#8211; only anti-market logic. Bertelsmann is not just buying a book publisher, but buying market dominance as a book behemoth. Distributors, retailers, authors and readers would be paying for this proposed deal for a very long time to come. This literary leviathan would have 70 percent of the US Literary and General Fiction market. 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