KKR Wins S&S for $1.62 Billion (publishersweekly.com)

In a move that some in the industry will welcome as putting at least a temporary stop to industry consolidation, the private investment firm KKR has reached an agreement with Paramount Global to acquire Simon & Schuster for $1.62 billion in an all cash transaction.

Though below the $2.175 billion that Penguin Random House had previously agreed to pay for the country’s third largest trade publisher, $1.62 billion is a healthy price since most trade publishers sell for not much better than 1.5 times sales, and S&S’s 2022 revenue was $1.18 billion.
more at: https://www.publishersweekly.com/pw/by-topic/industry-news/industry-deals/article/92928-kkr-wins-s-s-for-1-62-billion.html

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