HarperCollins, private equity firm KKR among bidders for S&S

HarperCollins and private equity firm KKR are among the bidders for Simon & Schuster (S&S), which owner Paramount Global is putting up for sale after the US government blocked Penguin Random House’s acquisition last year, reports the Wall Street Journal (WSJ).

Citing people familiar with the situation, the WSJ reports that second-round bids for S&S are due in mid-July, with Paramount expecting ‘to conclude the sale by the end of the [US] summer’.

KKR has an investment portfolio that includes stakes in media properties including production company Skydance Media, Epic Games, Axel Springer and talent-and-entertainment conglomerate Endeavor. HarperCollins is the number two book publisher in the US, behind Penguin, while S&S is number three, according to figures from Circana BookScan.

Category: International news