Paramount Global has signed a definitive agreement pursuant to which KKR will acquire Simon & Schuster for $1.62 billion in an all-cash transaction.
After the closing of the transaction, Simon & Schuster will become a stand-alone private company and will continue to be led by Jonathan Karp, its president and CEO, and Dennis Eulau, its COO and CFO.
KKR expects to advance the company’s position as one of the world’s best-known publishers and distributors with more than 36,000 titles across adult, children’s, audio and international categories.
In addition to investing in all areas necessary to establish Simon & Schuster as a stand-alone entity, KKR intends to support numerous growth initiatives, including extending Simon & Schuster’s strong domestic publishing program across various genres and categories, expanding its distribution relationships and accelerating growth in international markets.
KKR is making its investment in Simon &