Paramount Global has sold Simon & Schuster for $1.6 billion cash to private equity firm KKR.

<div class="block">Paramount Global has sold Simon &amp; Schuster for $1.6 billion cash to private equity firm KKR.</div>

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Simon & Schuster Sold to Private Equity Firm KKR

Paramount Global has sold Simon and Schuster for 1.6 billion in cash to private equity firm. KKR comes months after a federal judge blocked the publisher from being sold to Penguin Random House. Simon and Schuster will continue to operate under the leadership of Ceo Jonathan Carp. Carp said we're delighted and we will remain an independent company and not only will we continue to thrive but with the help of KKR, we can become even greater Richard Sarnoff, chair of Media at KKR hailed Simon Schuster saying we're not going to tell them what to buy what to publish or what not to publish and also noted that no layoffs were planned and Kkr would continue to invest in the publisher.