SHEARMAN & STERLING ADVISES PARAMOUNT GLOBAL ON THE $1.62 BILLION SALE OF SIMON & SCHUSTER TO KKR
In a significant move within the media and publishing landscape, Paramount Global has successfully finalized the sale of Simon & Schuster to global investment firm KKR for a staggering $1.62 billion in an all-cash transaction. The deal, which was announced on August 7, 2023, marks a strategic shift for both companies and has generated widespread interest within the industry.
Simon & Schuster, renowned worldwide for its exceptional offerings in fiction and nonfiction across various formats, is set to embark on a new chapter as a standalone private entity following the completion of the transaction. The leadership team, led by Jonathan Karp as President and CEO, alongside COO and CFO Dennis Eulau, is poised to navigate the company towards continued growth and innovation
Key players from the legal advisory firm Shearman & Sterling, including Daniel Litowitz, Lara Aryani, and Jessica K. Delbaum, played a pivotal role in facilitating this complex transaction, further solidifying the expertise and commitment of the legal community in orchestrating such high-profile deals.
