Mergers & Acquisitions Mergers & Acquisitions

Penguin Random House-Simon & Schuster merger likely to lead to decreased author advances, Macmillan CEO says

By Serafina Smith
  • 08 Aug 2022 22:39
  • 08 Aug 2022 22:39
Don Weisberg, chief executive of Macmillan Publishers, testified today that he believes the prospect of a combined Penguin Random House and Simon & Schuster is “intimidating” and would likely lead to a decrease in author advances.

At the start of the second week of trial in the Department of Justice’s challenge to block

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Serafina Smith

Reporter


Serafina Smith covers mergers and acquisitions for MLex from New York. Before becoming a journalist, Serafina was a paralegal supporting the United States Department of Justice, where she worked on foreign bribery and money laundering cases. She holds a master’s degree in journalism from New York University and a bachelor’s degree in linguistics from Georgetown University.

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