The largest American publisher Penguin Random House ival buys rivals Simon and Schuster in a 2 2.2 billion mega deal.

The German media organization Bertelsmann announced on Wednesday that its Penguin Random House division, the largest publisher in the U.S., would buy rival publishers Simon and Schuster from parent company ViacomCBS in a 17.217 billion cash deal. The deal is expected to close in 2021, with regulatory approval pending. The acquisition of Simon and Schuster will reduce the publishing industry’s “Big Five” to HarperCollins, Hatchet Book Group and Mum Kamilan. “Simon and Schuster strengthen Bertelsmann’s move globally, and (especially) in the US, its second largest market,” the company said in a statement. Marcus Dohl, chief executive of Penguin Random House, said Simon and Schuster would still gain editorial freedom under the new deal and could continue to compete with Penguin Random House for the book deal. But others are not so sure. Bertelsmann rival Harperklins said the deal was a strategic attempt to “buy market dominance as a book behemoth.”