New bid for S&S
Simon & Schuster (S&S) has received a buyout bid from investor Richard Hurowitz, with backing from Abu Dhabi sovereign investor Mubadala Investment Company, reports the Wall Street Journal (WSJ), citing people familiar with the situation.
Hurowitz is the publisher of a magazine called The Octavian Report, CEO of Octavian & Company, and the founder of New York-based investment company Octavian Advisors, which was sold to private equity firm TPG in 2013.
As previously reported, HarperCollins and private equity firm KKR are also reported to be among the bidders for Simon & Schuster (S&S), which owner Paramount Global is putting up for sale after the US government blocked Penguin Random House’s acquisition last year.
Category: International news