Shearman & Sterling advised Paramount Global on the sale of Simon & Schuster to KKR for $1.62 billion in an all-cash transaction. Simon & Schuster is a global leader in general interest publishing, dedicated to providing the best in fiction and nonfiction for readers of all ages, and in all printed, digital and audio formats. The transaction was announced on Aug. 7, 2023 in a press release.

After the closing of the transaction, Simon & Schuster will become a standalone private company and will continue to be led by Jonathan Karp, President and CEO and Dennis Eulau, COO and CFO of Simon & Schuster.
  
Paramount Global, owner of CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV, is a leading global media, streaming and entertainment company. KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR is making its investment in Simon & Schuster primarily through its North America Fund XIII and has secured fully committed financing for the transaction.

The Team: