ViacomCBS to Sell Simon & Schuster

The publisher was acquired by Viacom in the 1980s.

License Global

March 4, 2020

1 Min Read

ViacomCBS has announced that it is willing to sell publisher Simon & Schuster, which Viacom acquired in the ‘80s when it bought Paramount Communications.

Founded in 1924, the publisher releases 2,000 new titles a year from authors like Stephen King and Doris Kearns Goodwin. It moved to CBS in 2006, when Viacom and CBS split, then came back to the combined company in the merger that closed last December.

Bob Bakish, chief executive officer, ViacomCBS, says the company will look for strategic alternatives for the publisher as it seeks to exit non-strategic businesses, building up cash to invest in content, streaming and other areas. In addition to Simon & Schuster, the company has put “Black Rock,” the CBS headquarters, on the auction block.

Bakis said Simon & Schuster “is not a core asset” at the Morgan Stanley Technology, Media and Telecom Conference in San Fransciso. Bakis claims the company has received “multiple, unsolicited inbound calls” expressing interest in the publisher.

“We’ll engage in a process and look at strategic alternatives for Simon & Schuster,” says Bakish. “[The publishing unit] is not a core asset. It is not video-based. It does not have significant connection for our broader business.”

According to reports, the publishing company could earn more than $1 billion.

Read more about:


About the Author(s)

License Global

License Global is the leading news source for the brand licensing industry, delivering award-winning editorial content including news, trends, analysis, and special reports about the global consumer product and retail marketplace.

Through its print edition, website, daily e-newsletter and event publications, License Global reaches more than 150,000 executives and professionals in all major markets. The magazine also serves as the official publication for the sector’s trade events, which include Licensing Expo, Brand Licensing Europe, Licensing Expo Japan, Licensing Expo Shanghai and the Licensing Leadership Summit.

Subscribe for updates directly into your inbox.




Subscribe and receive the latest news from the industry Article
Join 62,000+ members. Yes, it's completely free.

You May Also Like