![]() As first documented in the investigative blockbuster “ Barbarians at the Gate,” the firm established an early record of buying companies, loading them up with debt, then squeezing them for profit - maybe most famously with the slow death of Toys R Us. ![]() They pioneered leveraged buyouts in the 1980s, culminating in one of the largest in history when they bought out RJR Nabisco in 1989. Roberts continue to hold positions as executive co-chairmen. Kohlberg Kravis Roberts is an investment company founded in 1976. Paramount announced Monday that it’s selling the storied publisher for $1.62 billion, months after a sale to Penguin Random House was blocked by a federal judge. Scott Fitzgerald and Ernest Hemingway.īooks Simon & Schuster CEO says there’s no need to be ‘nervous’ about new owner KKR Today its imprints include commercial lines such as Atria (Vince Flynn, Colleen Hoover, Jodi Picoult, Brad Thor) and the venerable Scribner ( Stephen King, Kiese Laymon, Jesmyn Ward) whose backlist features F. By the 21st century, Simon & Schuster had become a behemoth, one of the Big Five, inevitably containing multitudes. Paramount acquired Simon & Schuster in 1975, leading to vast growth through acquisitions, with a focus on educational and professional publishing. While Random House profited from the scandal of James Joyce’s “ Ulysses,” S & S grew on the back of crossword puzzle books. But whereas these other houses were literary ventures, S & S was more commercial from the start. Founded by two Jewish bookmen, Richard Simon and Max Schuster, it was among a wave of new firms established in the first half of the 20th century by Jewish bookmen, including Knopf, Random House and Viking. Simon & Schuster’s role in the book world On Monday, Paramount sold Simon & Schuster to KKR, a private equity firm. But the alternative in this case might prove worse. ![]() Such consolidation has long worried literary types who fear it leads to the privileging of profit over culture. Only three other publishers - HarperCollins, Hachette and Macmillan - control the bulk of the rest. Together they might have controlled more than half the industry. PRH is the largest publisher in the United States and S & S is third. It seemed to many in book publishing like good news last October when the Department of Justice successfully sued to block Penguin Random House (PRH) from acquiring Simon & Schuster.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |