ViacomCBS has received 25 inbound inquiries about buying Simon & Schuster since CEO Bob Bakish signaled plans to sell the storied publisher at a media conference in late February. The coronavir…
has received 25 inbound inquiries about buying Simon & Schuster since CEO Bob Bakish signaled plans to sell the storied publisher at a media conference in late February.was already top of mind then for many companies then and Bakish had indicated a sale might have to wait until things settled. “As this market stabilizes, we are going to engage in a process and look at strategic alternatives for Simon & Schuster,” he said.Viacom declined to comment.
The publisher is not a core asset, Bakish said at the Morgan Stanley Technology, Media and Telecom Conference, and as ViacomCBS restructures post-merger he had received “multiple, unsolicited inbound calls” expressing interest. “However, with the safety precautions related to COVID-19 announced by public officials now in place, the company has decided to postpone the sale process until interested parties can visit the property in person. The company will relaunch these marketing efforts once the situation stabilizes and anticipates completing a divestiture of Black Rock in 2020.”
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