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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.
KKR (KKR) has agreed to acquire Simon & Schuster from Paramount Global (PARA, PARAA) for $1.62 billion in an all-cash transaction. "We are pleased to have reached an agreement on a transaction that delivers excellent value to Paramount shareholders while also positioning Simon & Schuster for its next phase of growth with KKR," said Bob Bakish, President and CEO of Paramount Global.
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 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.
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.