TOP STORY: KKR & Co Inc is in advanced talks over $1.65bn deal to acquire book publisher Simon & Schuster from Paramount Global after beating off competition from other bidders, according to a report by Reuters.
KKR & Co Inc is in advanced talks over $1.65bn deal to acquire book publisher Simon & Schuster from Paramount Global after beating off competition from other bidders, according to a report by Reuters.
The report cites unnamed sources familiar with the matter as revealing that the other interested parties included News Corp-owned HarperCollins Publishers and investor Richard Hurowitz.
If the talks conclude successfully, a deal could be announced in the coming days, according to Reuters’ sources, although there is no certainty that the transaction will proceed,
Reuters reported in February that Paramount was seeking to sell Simon & Schuster for a second time, after the media company’s $2.2 billion deal to sell the publisher to Penguin Random House collapsed last year after it was was blocked by a federal judge over competiton concerns.
