Private equity firm KKR & Co. is in talks to acquire Simon & Schuster for $1.65 billion. KKR aims to expand its presence in media and entertainment. Simon & Schuster is a major book publisher, home to bestselling authors like Stephen King. Paramount bought Simon & Schuster for $1.4 billion in 2011. They sought to sell it after the Federal Trade Commission blocked a merger with Penguin Random House in 2021.
The potential KKR deal joins a trend of big acquisitions in the publishing industry. News Corp. acquired HarperCollins, while Vivendi acquired Hachette Livre. The publishing market may witness changes due to these mergers.
The deal’s finalization date remains uncertain as it’s in the early stages. Nevertheless, if successful, it would be a significant victory for KKR and the publishing industry.
Some additional details about the deal:
- The deal is valued at $1.65 billion.
- News Corp.’s HarperCollins Publishers competes with KKR for the acquisition.
- The deal’s status is still tentative and could fall through.
