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Simon & Schuster

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**History and Evolution**:
– Founded in 1924 by Richard Simon and Max Schuster.
– Initially focused on publishing crossword puzzles and used fad publishing strategies.
– Moved to Publishers Row in Manhattan in the 1930s.
– Acquisitions and mergers shaped company growth over the years.
– Diversified into educational publishing in the 1980s.
– Viacom acquired Paramount in 1994, reverting the name to Simon & Schuster.
– Continued to evolve publishing strategies and adapt to industry changes.
– Reorganized imprints under four main groups in 2012.
– Launched various new imprints and ventures to expand reach and offerings.

**Expansion and Partnerships**:
– Backed the founding of Pocket Books in 1939.
– Launched the Little Golden Books series in 1942.
– Educational publishing became a focus in the 1950s and 1960s.
– Acquired various companies like Monarch Press and Esquire Corporation.
– Entered the audiobook business in 1985.
– Continued expansion into Canadian publishing in 2013.
– Signed co-publishing deals with notable personalities like Glenn Beck and Derek Jeter.
– Partnered with Amazon for e-books and launched new imprints for speculative fiction, science fiction, and literary fiction.

**Ownership Changes**:
– ViacomCBS was formed in 2019, including Simon & Schuster.
– ViacomCBS announced the intention to sell Simon & Schuster in 2020.
– Sale to Penguin Random House announced in 2020 but nullified by a federal judge in 2022.
– Paramount Global officially sold Simon & Schuster to KKR for $1.62 billion in August 2023.
– KKR closed the deal to buy Simon & Schuster in October 2023.
– Bertelsmann bought Simon & Schuster for $2.2 billion in a U.S. publishing move.

**Challenges and Controversies**:
– Faced protests over book deals with former Trump administration officials in 2021.
– The US Department of Justice filed an antitrust lawsuit to block Penguin Random House’s acquisition of Simon & Schuster in 2021.
– Employee arrested for literary theft in 2022.
– HarperCollins and KKR emerged as potential buyers for Simon & Schuster in 2023.
– Various industry debates and tensions arising from controversial author signings and actions.

**Legal Developments and Industry Impact**:
– Various acquisitions and business changes over the years.
– Significant mergers and collapses in the publishing industry.
– Lawsuits and appeals related to mergers and acquisitions involving Simon & Schuster.
– Impact of ownership changes on the company’s trajectory and the publishing landscape.
– Ongoing legal and industry developments shaping the future of Simon & Schuster.

Simon & Schuster (Wikipedia)

Simon & Schuster LLC (/ˈʃstər/ SHOO-stər) is an American publishing company owned by Kohlberg Kravis Roberts. It was founded in New York City on January 2, 1924, by Richard L. Simon and M. Lincoln Schuster. Along with Penguin Random House, Hachette, HarperCollins and Macmillan Publishers, Simon & Schuster is considered one of the 'Big Five' English language publishers. As of 2017 Simon & Schuster was the third largest publisher in the United States, publishing 2,000 titles annually under 35 different imprints.

Simon & Schuster LLC
Company typeSubsidiary
FoundedJanuary 2, 1924; 100 years ago (January 2, 1924)
HeadquartersSimon & Schuster Building, ,
United States
Area served
Key people
  • Jonathan Karp (CEO)
  • Dennis Eulau (CFO, Executive Vice President of Operations)
  • Ian Chapman (Chief Executive, UK)
  • Kevin Hanson (President, Canada)
ServicesSee § Imprints
RevenueIncrease US$1.1 billion (2022)
OwnerKohlberg Kravis Roberts
Number of employees
c. 1,600 (2023)
ParentKohlberg Kravis Roberts
Footnotes / references
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