ViacomCBS will look to offload its Simon & Schuster publishing unit, Bob Bakish said Wednesday during an investor conference.
“We’ll engage in a process and look at strategic alternatives for Simon & Schuster,” the ViacomCBS CEO said during the Morgan Stanley Technology, Media and Telecom Conference in San Francisco. He added that the publishing unit “is not a core asset. It is not video-based. It does not have significant connection for our broader business.”
The publishing company founded in 1924 by Richard Simon and M. Lincoln Schuster. Viacom acquired Simon & Schuster in 1994 as part of its acquisition of Paramount Communications.