Simon & Schuster has been sold to the private equity firm KKR, months after a federal judge blocked its purchase by rival publisher Penguin Random House.
Book publisher Simon & Schuster's sale to investment firm KKR is novel in many ways, but also part of a long-term trend. History tells us to expect the unexpected.
Simon & Schuster purchased by private equity firm for $1 62B - Business News castanet.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from castanet.net Daily Mail and Mail on Sunday newspapers.
The acquisition of one of the largest U.S. publishers vastly increases the hold of financial interests in the business. The S&S CEO says, "They plan to invest in us and make us even greater than we already are."