Simon & Schuster Sold

Viacom has announced that it has sold Simon & Schuster to Penguin Random House LLC for $2.175 billion in cash.

“This divesture follows a strategic review of non-core assets ViacomCBS undertook early in 2020. Proceeds from the transaction will be used to invest in ViacomCBS‘s strategic growth priorities, including in streaming, as well as to fund the dividend and pay down debt.

“This transaction is the outcome of a highly competitive auction that attracted interest from buyers around the world, reflecting Simon & Schuster‘s position as one of the world’s best known publishing brands. Simon & Schuster has more than thirty publishing units across adult, children, audio and international. Its portfolio of best-selling authors includes Stephen King, Doris Kearns Goodwin and Jason Reynolds, and it owns a rich backlist of perennial favorite titles such as Catch-22 and The 7 Habits of Highly Effective People.”

Will this affect the future of Star Trek publishing? It’s too soon to tell but if there are changes, TrekToday will provide updates.

Source: Daily Star Trek Newsvia ViacomCBS

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