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Reuters had in February reported that Paramount Global, the
owner of Simon & Schuster, was again seeking to sell the
publisher, months after the media company's $2.2 billion deal to
sell the book publisher to Penguin Random House collapsed.
Last year, the U.S. Justice Department sued to stop the tie-up
of Penguin and Simon & Schuster, as a combined group would have
accounted for nearly half of the market for publishing rights to
blockbuster books.
HarperCollins, which is owned by News Corp, is betting that its
bid won’t meet a similar fate, the WSJ report said.
HarperCollins and Simon & Schuster did not immediately respond
to Reuters' requests for comment, while KKR declined to comment.
Paramount is exploring a sale that could value Simon & Schuster
between $2 billion and $2.5 billion and was also courting
private equity buyers, Reuters reported in February, citing
sources.
(Reporting by Chavi Mehta in Bengaluru; Editing by Pooja Desai)
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