KKR completed the acquisition of Simon & Schuster from Paramount for $1.62bn.

KKR, a private equity firm, completed the acquisition of Simon & Schuster, a printing services company, from Paramount, a mass media and entertainment conglomerate, for $1.62bn. “This is an exciting moment for us—both a return to our roots as a standalone company and an opportunity for all of us to forge a new path together. With KKR’s resources and support, we intend to become an even stronger company and a more dynamic force in our industry, while still maintaining our well-established record of editorial excellence and independence, and our unceasing focus on doing the best for our authors and their books. I know that we will build on that legacy going forward," Jonathan Karp, Simon & Schuster President and CEO.