Private equity firm KRR is reportedly in discussions to purchase major publishing house Simon & Schuster for $1.65 billion.
The publishing heavyweight was previously lined up for purchase by Penguin Random House before the sale was blocked by a federal judge.
KRR’s offer is some $550 million less than the $2.2 billion offer proposed by Penguin Random House.
Simon & Schuster is currently the United States’ third-largest book publisher according to market share.
