• News
  • Entertainment
    • Movies
    • Hollywood
    • Bollywood
    • Technology
    • Music
    • Deals
    • Games
    • Fashion
  • Finance
  • Crypto
  • Casino

ViacomCBS Has Received 25 Inquires About Buying Simon & Schuster Since It Flagged Intention To Sell Publisher

2.5KShares
422.9KViews

ViacomCBS has acquired 25 inbound inquiries about shopping for Simon & Schuster since CEO Bob Bakish signaled plans to promote the storied writer at a media convention in late February.

The coronavirus was already high of thoughts then for a lot of corporations then and Bakish had indicated a sale may need to attend till issues settled. “As this market stabilizes, we’re going to have interaction in a course of and have a look at strategic options for Simon & Schuster,” he mentioned.

The corporate continues to organize the division for a possible sale, the particular person mentioned.

Viacom declined to remark.

ViacomCBS is in search of to exit non-strategic companies and construct up money to spend money on content material, streaming and different areas of focus.

COPYRIGHT_BP: Published on https://bingepost.com/viacomcbs-has-received-25-inquires-about-buying-simon-schuster-since-it-flagged-intention-to-sell-publisher/74844/ by Cecilia Jones on 2020-03-26T14:31:51.000Z

The writer will not be a core asset, Bakish mentioned on the Morgan Stanley Know-how, Media and Telecom Convention, and as ViacomCBS restructures post-merger he had acquired “a number of, unsolicited inbound calls” expressing curiosity.

Simon & Schuster, based in 1924, was acquired by Viacom within the ’80s when it purchased Paramount Communications. It moved to CBS when Viacom and CBS cut up in 2006 and got here again to the fold of a mixed firm within the merger that closed final December. It publishes 2,000 titles a 12 months from authors from Stephen King to Doris Kearns Goodwin.

The newly merged ViacomCBS had additionally put CBS headquarters, generally known as Black Rock, up on the market however that course of has been formally placed on maintain. In an SEC submitting final week, the corporate introduced the short-term suspension of the advertising and marketing efforts to promote the previous CBS headquarters positioned in New York. It mentioned it has acquired “important curiosity within the asset.”

“Nonetheless, with the security precautions associated to COVID-19 introduced by public officers now in place, the corporate has determined to postpone the sale course of till events can go to the property in particular person. The corporate will relaunch these advertising and marketing efforts as soon as the scenario stabilizes and anticipates finishing a divestiture of Black Rock in 2020.”

Because the coronavirus freezes massive chunks of the U.S. economic system, some offers – particularly ones that have been already far alongside – are nonetheless getting completed like Fox Corp.’s $440 buy of Tubi earlier this month or Fubo and FaceBank Group’s merger introduced Monday. Bidders proceed to circle broadcaster Tegna. However with many individuals working remotely, Wall Streeters famous, a serous due diligence course of – which requires combing extensively by way of an organization’s data and accounts – is a tough factor to do nearly.

Bloomberg reported that AT&T is placing on maintain the sale of its regional sports activities nets, citing sources. AT&T declined to remark.

Share: Twitter | Facebook | Linkedin

About The Authors

Cecilia Jones

Cecilia Jones - Cecilia Jones loves to write about movies, music, and the most popular and exciting news.

Recent Articles

  • Who Is Savannah Chrisley Dating And How She Restart Her Past Relationship

    Hollywood

    Who Is Savannah Chrisley Dating And How She Restart Her Past Relationship

    Let's talk about the question, "Who is Savannah Chrisley dating?" Savannah Chrisley, a reality TV star from the United States, is most known for her time from 2014 until 2021 as "Savannah Knows Best on the USA Network." She is the daughter of reality TV personality and real estate tycoon Todd Chrisley and also appeared in the film "Sharknado 4: The 4th Awakens."

  • Ex-Pakistan PM Imran Khan Joins Rally Since Shooting

    News

    Ex-Pakistan PM Imran Khan Joins Rally Since Shooting

    The former prime minister of Pakistan Imran Khan addressed a sizable crowd of fans Imran Khan joins rally since shooting and being wounded three weeks ago. In Rawalpindi, crowds gathered for a rally while carrying flags and signs. They were exhorted to live without concern for mortality by the former cricket star.

  • Who Is Meg Donnelly Dating? Exposing The 'Zombies' Star's Relationship History

    Movies

    Who Is Meg Donnelly Dating? Exposing The 'Zombies' Star's Relationship History

    Meg Elizabeth Donnelly, an American actress, model, dancer, musician, and vocalist, was born on July 25, 2000. She is best known for her performances in the three "Zombies" sequels as well as the original film. Because of his fame and talent in acting, it's interesting to know the answer to this question: who is Meg Donnelly dating?

  • Bingo Bonga Online Casino: Fun Way To Win Money

    Casino

    Bingo Bonga Online Casino: Fun Way To Win Money

    Bingo Bonga Casino is one of the most reputable online casinos around. It is owned and operated by the N1 Interactive Limited Casinos Group, which is one of the most reputable companies in the industry.

  • Japan Leaves Dressing Room Spotless After Beating Germany In World Cup 2022

    News

    Japan Leaves Dressing Room Spotless After Beating Germany In World Cup 2022

    In a 2022 World Cup group stage encounter on Wednesday in Qatar, Japan earned a historic first-ever victory over Germany, sparking jubilant celebrations. Japan leaves dressing room spotless after beating Germany, rather than celebrating the triumph.

  • Ukraine’s SBU Raids Russian-backed Monastery In Kyiv

    News

    Ukraine’s SBU Raids Russian-backed Monastery In Kyiv

    In an effort to stop what are believed to be "subversive activities by Russian special services," Ukraine's SBU raids Russian-backed monastery in Kyiv. Some of the UOC's most prominent clergy have been charged with continuing to covertly assist Moscow and using their position to sway churchgoers.

  • "Mass Exodus" Of Staffers Throws Twitter's Future Into Uncertainty

    News

    "Mass Exodus" Of Staffers Throws Twitter's Future Into Uncertainty

    Users submitted what they felt may be their final postings on the platform Thursday night, listing the other (more reliable) social media platforms where they can still be found and used the hashtag #RIPTwitter to create a global trend as the "mass exodus" of staffers throws Twitter's future into uncertainty.

  • Dove Cameron - Diving Into The Disney Star’s Colorful Love Life

    Hollywood

    Dove Cameron - Diving Into The Disney Star’s Colorful Love Life

    For the fans of Disney Channel’s “Liv and Maddie,” they could be well informed about the times their favorite Dove Cameron fell in love - on screen and off screen. She could either have become Mrs. McCartan or Mrs. Doherty. Alas! There’s neither a marriage nor a boyfriend.

  • Tears And Emotion As Wales Return To World Cup 2022

    News

    Tears And Emotion As Wales Return To World Cup 2022

    For thousands of Wales football fans, it is a day filled with intense emotion as they see something many feared they would never see. Tears and emotion as Wales return to World Cup 2022. They have traveled to Qatar from all over the world to witness their team play on the largest football stage ever for the first time since 1958.

  • Elizabeth Holmes Is Sentence To More Than 11 Years In Prison For Theranos Fraud

  • 10 Million Without Power After Russian Strikes On Ukraine’s Energy System

  • Who Is Yung Miami Dating? The World-famous Singer's Boyfriend

  • Who Is Mattie Westbrouck Dating? Young American Social Media Sensation Relationship Details

  • Who Is Kelly Clarkson Dating? This Is The Guy She's In Love With