KKR Completes Purchase of Simon & Schuster

In his letter to employees, Karp highlighted the fact that, with the purchase by KKR, S&S will no longer be part of a media conglomerate for the first time since 1975, when it was acquired by Gulf Western. Instead, it is now part of a portfolio of companies owned by KKR, which includes the digital distributor OverDrive. As of December 31, 2022, KKR's traditional private equity portfolio consisted of more than 125 companies, with approximately $290 billion in collective annual revenue.