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Weekly News Digest
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November 29, 2022 — In addition to this week's NewsBreaks article and the monthly NewsLink Spotlight, Information Today, Inc. (ITI) offers Weekly News Digests that feature recent product news and company announcements. Watch for additional coverage to appear in the next print issue of Information Today.
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The Future of Simon & Schuster
Joe Pompeo writes the following in “With Penguin Random House Out of the Picture, What Happens to Simon & Schuster Now?” for Vanity Fair:[Penguin Random House] argued at trial that if the sale [of Simon & Schuster (S&S)] didn’t go through, [S&S owner] Paramount might sell to a firm with little publishing knowledge, which would take on debt and ‘gut’ S&S. The judge was unmoved. … Who might such an acquirer be, in any case? The Wall Street Journal has reported there’s been interest from KKR, which, as one of my sources noted, could potentially find synergies between S&S and the audiobook business that KKR acquired in 2018, RBmedia. As for so-called strategic buyers, those would be Hachette and HarperCollins, whose executives testified during the trial that they’d still like their companies to own S&S. … But there’s no guarantee that the DOJ wouldn’t also seek to prevent an S&S-Hachette or an S&S-HarperCollins mash-up. … All of which is to say that none of Simon & Schuster’s options seem particularly rosy or cut and dried. For more information, read the article.
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Brandi Scardilli
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