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ViacomCBS To Sell Publisher Simon And Schuster

By  |  March 4, 2020

ViacomCBS is looking to sell its Simon & Schuster book-publishing business, Chief Executive Bob Bakish said, a deal that would provide the company with additional cash to spend on its video-streaming efforts.

The company will seek at least $1.2 billion for Simon & Schuster, according to a person familiar with the matter.

“Simon & Schuster is not a core asset of the company,” Mr. Bakish said during an investor conference Wednesday. He said he had received “multiple unsolicited inbound calls” about the publisher.

Simon & Schuster will likely attract widespread interest since major publishing houses come on the market infrequently. ViacomCBS is seeking to sell Simon & Schuster to rival book publishing houses, the person said.

Full Content: Wall Street Journal

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