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Paramount Global has sold Simon & Schuster to the private equity firm KKR. The deal comes nearly a year after the Department of Justice blocked Penguin Random House from acquiring Simon & Schuster.
The acquisition of Simon & Schuster by KKR, Jonathan Karp says, is enhanced by KKR's interest in company growth and employee equity.
Paramount has agreed to sell Simon & Schuster to private equity firm KKR for $1.6 billion in cash, after more than three years of trying to offload the book publishing powerhouse.
Paramount announced Monday that it's selling the storied publisher for $1.62 billion, months after a sale to Penguin Random House was blocked by a federal judge.
Simon & Schuster has been acquired by private investment firm KKR for $1.62 billion, according to a joint statement between the firm and the publishing…