Purchase of Simon & Schuster returns it to a standalone company for the first time since 1975
Oct 31 2023
As of yesterday, the KKR purchase of Simon & Schuster from Paramount Global has been officially completed. With the $1.62 billion all-cash transaction, S&S is now a standalone private limited liability company, and the only independent major trade publisher in the U.S.
“This marks the first time since 1975, when Simon & Schuster was sold to Gulf + Western, that we will stand on our own and not as part of a larger media conglomerate,” S&S president and CEO Jonathan Karp said in a letter to staff. “With KKR’s resources and support, we intend to become an even stronger company and a more dynamic force in our industry, while still maintaining our well-established record of editorial excellence and independence….
