• The Hub

    News, Notes, Talk

    Simon & Schuster is for sale because it is not videos.

    Corinne Segal
    By 
    March 4, 2020, 12:14pm

    Simon & Schuster is for sale, ViacomCBS CEO Bob Bakish said today at an investor conference for Morgan Stanley in San Francisco, while using the word “asset” far too many times and resurrecting the corpse of the “pivot to video” media strategy on its way to hell.

    “We’ve made the determination that Simon & Schuster is not a core asset of the company. It is not video based; it doesn’t have significant connectivity to our broader business. At the same time, there’s no question it’s a marquee asset that’s highly valuable. I’ve had multiple, unsolicited inbound calls about that asset,” Bakish said.

    Simon & Schuster CEO Carolyn Reidy wrote in an email to Simon & Schuster staff today that it has “a history of strong and long lasting relationships with our authors, and we will continue to bring important voices to readers around the world, both with our current publishing and our rich backlist of perennially favorite titles.”

    [h/t Variety]

    Asset Asset Asset Asset Asset Asset Asset Asset Asset Bob Bakish Corporate Garbage Language Simon & Schuster Unionize Your Workplace

    • Become a Lit Hub Supporting Member: Because Books Matter

    For the past decade, Literary Hub has brought you the best of the book world for free—no paywall. But our future relies on you. In return for a donation, you’ll get an ad-free reading experience, exclusive editors’ picks, book giveaways, and our coveted Joan Didion Lit Hub tote bag. Most importantly, you’ll keep independent book coverage alive and thriving on the internet.

    Become a member for as low as $5/month

    Dismiss without supporting Lit Hub
    x
    %d bloggers like this: