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Simon & Schuster

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Simon & Schuster LLC(/ˈʃuːstər/,SHOO-stər) is an American publishing house owned byKohlberg Kravis Robertssince 2023. It was founded inNew York Cityin 1924, byRichard L. SimonandM. Lincoln Schuster.[5]Along withPenguin Random House,Hachette,HarperCollinsandMacmillan Publishers,Simon & Schuster is considered one of the'Big Five'English language publishers. As of 2017,Simon & Schuster was the third largest publisher in the United States,[6]publishing 2,000 titles annually under 35 differentimprints.[7][8]

Simon & Schuster LLC
Company typeSubsidiary
FoundedJanuary 2, 1924;100 years ago(1924-01-02)
Founders
HeadquartersSimon & Schuster Building,
Manhattan,New York City
,
United States
Area served
Worldwide
Key people
ProductsBooks
ServicesSee§ Imprints
RevenueIncreaseUS$1.1 billion(2022)
Owner
Number of employees
c. 1,600(2023)
Websitesimonandschuster
Footnotes / references
[1][2][3][4]

History

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Early years

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In 1924,Richard Simon's aunt, acrossword puzzleenthusiast, asked whether there was a book ofNew York Worldcrossword puzzles, which were popular at the time. After discovering that none had been published, Simon andMax Schusterdecided to launch a company to exploit the opportunity.[9]At the time, Simon was a piano salesman and Schuster was editor of an automotive trade magazine.[10]They pooledUS$8,000,equivalent to $142,000 today,[11]to start a company that published crossword puzzles.[12][9]

The new publishing house used "fad" publishing to publish books that exploited current fads and trends. Simon called this "planned publishing".[10]Instead of signing authors with a planned manuscript, they came up with their own ideas, and then hired writers to carry them out.[10]

In the 1930s, the publisher moved to what has been referred to as "Publisher's Row" onPark AvenueinManhattan,New York.[10]

Expansion

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In 1939, Simon & Schuster backed Robert Fair de Graff to foundPocket Books,America's first paperback publisher.[13]In 1942, Simon & Schuster andWestern Publishinglaunched theLittle Golden Booksseries in cooperation with the Artists and Writers Guild.[14][15]

In 1944,Marshall Field III,owner of theChicago Sun,purchased Simon & Schuster and Pocket Books.[16]The company was sold back to Simon and Schuster following his death in 1957[17]for $1 million.[18]

In the 1950s and 1960s, many publishers including Simon & Schuster turned toward educational publishing due to thebaby boommarket.[19]Pocket Books focused on paperbacks for the educational market instead of textbooks and started the Washington Square Press imprint in 1959.[19]By 1964 it had published over 200 titles and was expected to put out another 400 by the end of that year.[19]Books published under the imprint included classic reprints such asLorna Doone,Ivanhoe,Tom Sawyer,Huckleberry Finn,andRobinson Crusoe.[20]In 1967, Simon & Schuster acquired Monarch Press Publishing, Inc., along with its extensive line of college and high school study guides published.[21]

In 1960, Richard Simon died of a heart attack; six years later, Max Schuster retired and sold his half of Simon & Schuster to Leon Shimkin.[12][22]Shimkin then merged Simon & Schuster with Pocket Books under the name of Simon & Schuster.[12][22]In 1968, editor-in-chiefRobert Gottlieb,who worked at Simon & Schuster since 1955 and edited several bestsellers includingJoseph Heller'sCatch-22,[23]left abruptly to work at competitorKnopf,taking other influential S&S employees,Nina Bourne,and Tony Schulte.[24][12]

Simon & Schuster was acquired byGulf+Westernin an 8-for-1stock swapon January 28, 1975.[25]Four years later in 1979, Richard Snyder was named CEO of the company. Over the next several years he would help the company to grow substantially.[26]

1980s

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After the death of Gulf+Western headCharles Bluhdornon February 19, 1983,[27]the company made the decision to diversify. Bluhdorn's successor Martin Davis toldThe New York Times,"Society was undergoing dramatic changes so that there was a greater need for textbooks, maps, and educational information. We saw the opportunity to diversify into those areas, which are more stable and more profitable than trade publishing."[28]

In 1984, Simon & Schuster with CEORichard E. Snyderacquired educational publisher Esquire Corporation, owner of companies includingAllyn & Bacon(and former owner ofEsquiremagazine), for $180 million.[28]Prentice Hallwas brought into the company fold in 1985 for over $700 million and was viewed by some executives to be a catalyst for change for the company as a whole.[12][28]This acquisition was followed bySilver Burdettin 1986,[29]mapmakerGoushain 1987 and Charles E. Simon in 1988.[29]Part of the acquisition included educational publisher Allyn & Bacon which, according to then editor and chiefMichael Korda,became the "nucleus of S&S's educational and informational business."[12]Three California educational companies were also purchased between 1988 and 1990 – Quercus, Fearon Education and Janus Book Publishers.[28]In all, Simon & Schuster spent more than $1 billion in acquisitions between 1983 and 1991.[29]

In the 1980s, Snyder also made an unsuccessful bid toward video publishing which was believed to have led to the company's success in the audiobook business. Snyder was dismayed to realize that Simon & Schuster did not own the video rights toJane Fonda's Workout Book,a huge bestseller at the time and that the video company producing the VHS was making more money on the video. This prompted Snyder to ask editors to obtain video rights for every new book. Agents were often reluctant to give these up – which meant the S&S Video division never took off. Simon & Schuster launched its audiobook division in 1985.[30]According to Korda, audiobooks were a major business for Simon & Schuster by the 1990s.[12]

In 1989, Gulf and Western Inc., owner of Simon & Schuster, changed its name to Paramount Communications Inc.[31]

1990s

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In 1990,The New York Timesdescribed Simon & Schuster as the largest book publisher in the United States with sales of $1.3 billion the previous year.[28]That same year, Simon & Schuster acquired the children's publisher Green Tiger Press.[32]

In 1993, Simon & Schuster boughtMacmillan(includingScribner's,Free Press,and Jossey-Bass), and changed its name to Paramount Publishing.Viacomthen bought Paramount in 1994 and changed the name back to Simon & Schuster.[33][34]Macmillan was acquired for US$552.8 million.[35]Later that year, Snyder was suddenly fired from S&S and was replaced by the company's president and chief operating officer Jonathan Newcomb.[26]Simon & Schuster then sold several peripheral assets, such as selling Charles E. Simon Co. to CDB Infotek.[36]Gousha was sold toRand McNallyin 1996.[37]

In 1994, S&S acquired the software operations ofMarkt+Technik.[38]Later that year, Simon & Schuster (through Paramount) launched a software publisher in partnership withDavidson & Associatesnamed Simon & Schuster Interactive.[39]The studio published video games such asOutlaw Golf,Deer Avenger,I.M. Meen,Chill Manor,EVE Online,and games based onRichard Scarry's characters. S&S Interactive shut down in 2003.[40]

In 1998, Viacom sold Simon & Schuster's educational operations (including Prentice Hall, Macmillan, and Jossey-Bass) toPearson plc,the global publisher and then owner of Penguin and theFinancial Times;Pearson then merged the operations withAddison-WesleyLongmanto formPearson Education.Later, Pearson sold several of the acquired S&S divisions: first Appleton & Lange was divested toMcGraw-Hilland Master Data Central was sold toMaster Data Center.[41]Then, Jossey-Bass was sold toJohn Wiley & Sonsand the Bureau of Business Practice was sold toWolters Kluwer.[42]Subsequently, Macmillan Library Reference's children's imprints (Silver Burdett Press, Dillon Press, Crestwood House, Silver Press, New Discovery andJulian Messner) were closed.[43]Then,Galeacquired Macmillan Library Reference (Charles Scribner's Sons Reference, Macmillan Reference, Thorndike Press,G.K. Hall,Twayne Publishers and Schirmer Books).[44]Finally,IDG Booksacquired Macmillan General Reference (includingFrommer's,J.K. Lasser,Betty CrockerCookbooks,Weight WatchersDieting and Cookbooks and Howell House Pet Books but excludingComplete Idiot's Guides,which Pearson later transferred to Macmillan Computer Publishing underAlpha Booksand currently part ofPenguin Random HouseunderDorling Kindersley).[45][46]

2000s

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In 2002, Simon & Schuster acquired its Canadian distributor Distican.[47]Simon & Schuster began publishing in Canada in 2013.[48]

At the end of 2005, Viacom split into two companies:CBS Corporation(which inherited S&S andParamount Parks), and the other retaining theViacomname.[49]Also in 2005, Simon & Schuster acquired Strebor Books International, which was founded in 1999 by author Kristina Laferne Roberts, who has written under the pseudonym "Zane".[50][51]A year later, in 2006, Simon & Schuster launched the conservative imprintThreshold Editions.[52]

In 2009, Simon & Schuster signed a multi-book and co-publishing deal withGlenn Beckwhich fell over many of its imprints and included adult non-fiction, fiction, children, and YA literature as well as e-book and audiobook originals.[53]As part of CBS, Simon & Schuster has been the primary publisher for books related to various media franchises owned by and/or aired on CBS such asCSI.[54]The company has also held a license to publish books in theStar Trekfranchise underPocket Books.[55]

2010s

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In 2011, Simon & Schuster signed a number of co-publishing deals. Glenn Beck signed a new co-publishing deal with Simon & Schuster for his own imprint,Mercury Ink.[56]Under Atria, Simon & Schuster also launched a publishing venture withCash Money Recordscalled Cash Money Content.[57]

On April 11, 2012, the United States Department of Justice filedUnited States v. Apple Inc.,namingApple,Simon & Schuster, and four other major publishers as defendants. The suit alleged that they conspired to fix prices fore-books,and weakenAmazon's position in the market, in violation ofantitrust law.[58]

Simon & Schuster reorganized all of their imprints under four main groups in 2012.[59]The four groups included the Atria Publishing Group, the Scribner Publishing Group, the Simon & Schuster Publishing Group and the Gallery Publishing Group.[59]According to CEOCarolyn Reidy,the divisions were created to align imprints that complement one another and that the structure would "lead to a sharper editorial focus for our imprints even as it takes consideration of the natural affinities among them."[59]In 2012, Simon & Schuster launched a self-publishing arm of the company, Archway Publishing.[60]

On November 14, 2013, Simon & Schuster signed a co-publishing agreement with formerNew York Yankeesshortstop,Derek Jeter,to launch Jeter Publishing.[61]In December 2013, a federal judge approved a settlement of the antitrust claims, in which Simon & Schuster and the other publishers paid into a fund that provided credits to customers who had overpaid for books due to the price-fi xing.[62]

In 2014, Simon & Schuster signed a partnership deal with Amazon over ebooks and also launched a new speculative fiction imprint. On October 21, 2014, Simon & Schuster signed a multi-year partnership deal withAmazonin negotiations concerning the price of e-books.[63]Simon & Schuster also launched a new science fiction imprint called Simon451 that would publish titles across science fiction and fantasy with an emphasis on ebooks and online communities.[64]The name of the imprint was inspired byRay Bradbury's bookFahrenheit 451(the temperature at which books burn).[64]Bradbury's classic is also published by Simon & Schuster.[64]

Simon & Schuster expanded beyond book publishing in 2015 by offering a new business model and additional services for authors. In 2015, Simon & Schuster announced the creation of a new publishing unit and imprint called North Star Way.[65]The imprint would publish non-fiction titles such as self-improvement, inspirational and mind-body-spirit titles. In addition, the group would also serve as a platform and set of services for authors that go beyond what a traditional book publisher offers to find their audience.[65]The services include helping authors expand their reach through online courses, seminars, workshops, mobile applications, video and audiobooks, sponsorships and business partnerships, and podcasts. North Star Way sits within theGallery Publishing Groupdivision.[65]According to Michele Martin, publisher and founder, the name North Star reflects their mission, "to publish books that will help readers find the path to a better life, and to be a guide for our authors, not only through publication of their books but also in the many other activities that can help their message find the widest possible audience."[66]In an interview withKirkus Reviews,Michele Martin expanded that North Star Way, "aims to meet consumers where they are, in whatever form of media they consume. We expand the ideas in the books into a variety of platforms."[67]The name promptedMarvel Comicsto attempt to register the name of their superheroNorthstarin February 2015. The application was denied as Simon & Schuster had already made a trademark application for North Star Way in January.[68]

Simon & Schuster launched SimonSays a portal for online video courses in 2016, along with Scout Press, a new literary fiction imprint under Gallery Books Group. They also launched North Star Way, a platform-based program to provide authors with services beyond publishing including brand management, online courses, sponsorship, and business partnerships.[7]Also as of 2016, Simon & Schuster had more than 18k e-books available for sale and signed a deal to distribute Start Publishing LLC, a catalog of 7,000 e-book titles.[7]

In 2019, CBS and Viacom reunited to form ViacomCBS. As a result, Simon & Schuster became part of the newly formed ViacomCBS.[69]Since February 15, 2022, ViacomCBS is known asParamount Global.

2020s

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In March 2020, ViacomCBS CEOBob Bakishannounced the company's intention to sell the Simon & Schuster division, as it "does not have significant connection for our broader business."[70]Bakish expected the sale to close in 2020, a date that was delayed by theCOVID-19 pandemic.[71][72]

In September 2020, German media groupBertelsmann,which ownsPenguin Random House,announced that it was interested in acquiring Simon & Schuster. According to Bertelsmann chief executive and chairmanThomas Rabe,"We've been the most active player on the consolidation of the book publishing market in the last 10 years. We combinedPenguinandRandom Housevery successfully to create by far the largest book publisher in the world, actually the only global book publisher. Given this position we would, of course, be interested in Simon & Schuster. "[73]

Vivendi,which owns the French publisherEditis,andNews Corp,which ownsHarperCollins,were also named as contenders in acquiring Simon & Schuster.ViacomCBSexpected the bids to be placed before November 26, 2020.[74]

On November 25, 2020, ViacomCBS announced it would sell Simon & Schuster to Penguin Random House for $2.175 billion. The deal was expected to close in 2022, but was blocked by US federal judgeFlorence Y. Panon October 31, 2022.[75][76][77][78]An appeal to the court ruling was announced a day later by Bertelsmann,[79]but it was ultimately canceled on November 21.[80]

In 2021, Simon & Schuster made book deals with former Trump administration officials, such asVice PresidentMike Penceand Trump adviserKellyanne Conway.This prompted protests among Simon & Schuster staff.[81][82][83]On November 2, 2021, theUnited States Department of Justicefiled a civil antitrust lawsuit to block Penguin Random House's proposed acquisition of Simon & Schuster. The lawsuit argues that the acquisition would create a publisher with too much influence over books and author payments.[84]A federal judge sided with the plaintiff, leading Paramount to nullify the deal in November 2022.[85]

In 2022, Simon & Schuster employee Filippo Bernardini was arrested for the2016–2021 literary phishing thefts.The company released a statement saying they were "shocked and horrified to learn today of the allegations of fraud and identity theft by an employee."[86]

In June 2023,The Wall Street Journalreported that HarperCollins and investment firmKohlberg Kravis Roberts(KKR) had emerged as potential frontrunners for the company.[87]On August 3, 2023, it was reported that KKR was in "advanced talks" with Paramount Global.[88][89]On August 7, 2023, Paramount Global announced that it had agreed to sell Simon & Schuster to KKR for $1.62 billion.[90]The sale was completed on October 30, 2023.[91][92]

In May 2024, Simon & Schuster acquiredVeen Bosch & Keuning(VBK), the largest Dutch book publishing company. The acquisition includes all of VBK's imprints in the Netherlands and Belgium, as well as its sister companies, the audiobook producerThinium,andBookchoice,a subscription-based platform for e-books and audiobooks. This is the first expansion of Simon & Schuster into a non-English market.[93]In September 2024, it was announced that Simon & Schuster Australia had entered an agreement to acquire publisherAffirm Press.[94]

People

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Editors and publishers

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Authors

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Simon & Schuster has published thousands of books from thousands of authors. This list represents some of the more notable authors (those who are culturally significant or have had several bestsellers, meaning they have sold at least 3,000 books).

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"The Sower", Simon & Schuster logo,c.1961

According to one source, The Sower, the logo of Simon & Schuster, was inspired by the 1850Jean-François Milletpainting of the same name.[95]According toMichael Korda,the colophon is a small reproduction ofThe Sowerby SirJohn Everett Millais.[96]

Imprints

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Adult publishing

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Children's publishing

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  • Aladdin,publisher of picture and chapter books for middle-grade readers
  • Atheneum,publisher of literary middle grade, teen and picture books
  • Beach Lane Books,[7]publisher of picture books, founded in 2008 and located inSan Diego[108]
  • Little Simon,[7]publisher of children's books
  • Margaret K. McElderry Books,[7]boutique imprint publisher of literary fiction and nonfiction for children and teens
  • MTV Books, pop culture imprint relaunched in 2021[109]
  • Paula Wiseman Books,[7]publisher of picture books, novelty books and novels for children
  • Salaam Reads, imprint for Muslim children's literature by Simon & Schuster's Children's Division[110]
  • Simon & Schuster Books for Young Readers,[7]flagship imprint of Simon & Schuster's Children's Division
  • Simon Spotlight,[7]publisher focused on licensed properties for children

Audio

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Former imprints

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  • Archway (children's imprint of Pocket Books, merged intoAladdin Paperbacks)[111]
  • Bookthrift (Inexpensive reprints, discontinued)
  • Earthlight (UK science fiction imprint, discontinued)
  • Downtown Press (women's fiction, discontinued)
  • Fireside Books
  • Free Press[7]
  • Green Tiger Press
  • Half Moon Books
  • Inner Sanctum Mysteries
  • Linden Press
  • Long Shadow Books
  • Minstrel Books (children's imprint of Pocket Books, merged intoAladdin Paperbacks[111])
  • Poseidon Press(operated 1982–1993)
  • Richard Gallen Books
  • Simon & Schuster Interactive (1995–2003)
  • Simon Pulse, publisher of teen books, launched in 1999 as Pocket Pulse and renamed in 2001[112][111]
  • Sonnet Books
  • Tiller Press (specializes in "practical nonfiction": diet, wellness, home design.)
  • Touchstone, Touchstone Books (closed December 2018)[113]
  • Wallaby Books

See also

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References

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  4. ^Sherman, Natalie (August 7, 2023)."Simon & Schuster: Publisher to be sold for $1.6bn".BBC News.Archivedfrom the original on August 8, 2023.RetrievedAugust 8,2023.
  5. ^"What it Means to Be a Book Publisher at 29: What Simon and Schuster Have Found Out in Their Pursuit of Best Sellers"ArchivedOctober 3, 2023, at theWayback Machine,by Beatrice Barmby,McClure'smagazine (October 1927) p.62
  6. ^Milliot, Jim (February 24, 2017)."Ranking America's Largest Publishers".Publishers Weekly.Archivedfrom the original on May 20, 2024.RetrievedSeptember 25,2020.
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  20. ^"Searching Out the Paperbacks; Searching Out the Paperbacks".Archivedfrom the original on May 20, 2024.RetrievedJanuary 14,2017.Some searching, though disclosed that in Washington Square Press Books, for instance, there's an astounding assortment, many of them books I'd recently paid several times the price for in hardcover: "Lorna Doone," "Huckleberry Finn," "Robinson Crusoe," etc. etc.
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