2023-06-15 16:07:36 ET
- News Corp.'s ( NASDAQ: NWSA ) HarperCollins Publishers and private equity firm KKR & Co. ( KKR ) are among the bidders for Paramount Global's ( NASDAQ: PARA ) Simon & Schuster book publishing unit.
- Second round bids for Simon & Schuster are due in mid-July, according to a WSJ report, that cited people familiar with the matter. Paramount ( PARA ) expects to conclude the sale by the end of the summer.
- A potential deal comes after Paramount's ( PARA ) $2.2 billion deal to sell the book publisher to Penguin Random House fell apart last year after it was blocked by antitrust regulators.
- Paramount is working with an adviser to weigh a new run at a sale that could bring $2 billion–$2.5 billion, according to a Reuters report in February.
- HarperCollins is the No. 2 book publisher after Penguin, while Simon & Schuster is No. 3, according to the WSJ.
- ViacomCBS (the former name of Paramount) originally announced its intention to sell its Simon & Schuster publishing arm in March 2020.
For further details see:
News Corp.'s HarperCollins, KRR among bidders for Simon & Schuster - WSJ