Paramount has agreed to sell Simon & Schuster to private equity firm KKR for $1.6 billion in cash, after more than three years of trying to offload the book publishing powerhouse.
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I’m not thrilled after what they’ve done to other companies, looking at you Toys 'R Us, and what they’ve done since taking control of OverDrive. Probably better than letting Penguin Randomhouse have a more significant cut of publishing, but not much.