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Brian Steinberg-Senior
Walter Isaacson
Paramount Global, KKR Near Deal for Simon & Schuster Valued at $1.6 Billion
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variety.com
variety.comBrian Steinberg Senior TV Editor Paramount Global is near a deal to sell its Simon & Schuster publishing operations to investment giant KKR for as much as $1.62 billion, according to a person familiar with the matter.
Paramount Global, the owner of CBS, Paramount+ and Nickelodeon, is expected to report its second-quarter earnings Monday afternoon.
Paramount Global declined to make executives available for comment. Its Class B shares were up more than 2.5% in early trading Monday.
The deal will mark the second time Paramount has tried to dispose of Simon & Schuster, which has published everyone from Ernest Hemmingway to Walter Isaacson.
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