Private equity firm KKR buys publisher Simon & Schuster

8 August 2023

The book publisher is said to have been bought for US$1.62 billion, reports The Guardian. This in the wake of the failed 2020 takeover attempt by Penguin Random House, which was blocked in late 2022, by a US court.

Late in 2020, Paramount had announced the sale of Simon & Schuster to Penguin Random House for $2.2bn, a deal that would have made the new company by far the biggest in the US. But the Department of Justice, which under the Biden administration has taken a tougher stance on mergers compared to other recent presidencies, sued to block the sale in 2021.

I don’t know a whole lot about the book publishing business, but US$1.62 billion seems like quite a bargain to me.