HarperCollins and private equity firm KKR among second-round bidders for S&S, WSJ reports

HarperCollins and private equity company KKR are among the second round bidders for Simon & Schuster (S&S), the Wall Street Journal reports. 

Publishers’ Lunch also reported neither Lagardere nor its new owner Vivendi bid for S&S. Vivendi was the underbidder behind Penguin Random House (PRH) during the first sale of the publisher in 2020. 

Analysts previously suggested that a non-trade buyer was now the more likely option, as they are less likely to raise the same concerns around competition that caused the initial deal to fall through. However, HarperCollins president and c.e.o. Brian Murray has previously expressed interest in trying again. At the London Book Fair in April he said Judge Florence Pan’s comments that “it is just as likely that another publishing company will prevail in a future sale”, was “a sign that the door is open. I think it would take time to get a deal closed. But it’s not impossible,” he said. 

The Wall Street Journal reported second bids are due by mid-July, and a deal could be completed by the end of the summer. Paramount Global, S&S’ parent company, has previously said that it expects to complete a purchase before the end of the year.