Simon & Schuster purchased by private equity firm KKR for $1.62 billion

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 because of concerns that competition would shrink the book market. An executive for KKR is calling the deal a chance to work with “one of the most effective” book publishers. The private equity giant will buy Simon & Schuster for $1.62 billion in cash, said Paramount Global, the parent company of the storied publishing house.

Related Keywords

New York ,United States ,Bob Woodward ,Florencey Pan ,Stephen King ,Richard Simon ,Simon Schuster ,Jonathan Karp ,Rupert Murdoch Newscorp ,Max Schuster ,Colleen Hoover ,Hachette Book Group ,Us But The Department Of Justice ,Harpercollins ,Penguin Random House ,Paramount Global ,Harpercollins Publishing ,Rupert Murdoch ,Judge Florence ,