Global private investment firm KKR has completed its previously announced acquisition of fiction and non-fiction publisher Simon & Schuster from Paramount Global in a $1.62bn all-cash transaction.
Now a standalone private company, Simon & Schuster continues to be led by Jonathan Karp, President and CEO, and his existing executive team.
KKR is supporting Simon & Schuster in implementing a broad-based employee ownership program. This strategy is based on the belief that employee engagement and a strong ownership culture are key drivers in building stronger companies. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-senior management employees across more than 35 portfolio companies.
