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Article: Making book: why Michael Milken wants to buy Simon & Schuster.
- Article from:
- Newsweek
- Article date:
- May 4, 1998
- Author:
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TALK ABOUT AN EDITOR'S NIGHT- mare. The publishing world was already on edge about the shakeout in the industry and big corporations stalking literary prey. Then came news of the latest invader: Michael Milken.
The former junk-bond king and convicted felon is on a short list of bidders for Simon & Schuster, the prestigious publisher of books such as "Angela's Ashes." In an auction that could wind up this month, Viacom Inc., which owns MTV and Blockbuster Video, is expected to sell most or all of the publishing company for as much as $5 billion. Top bidders include Pearson PLC, owner of Penguin Putnam, KKR's Primedia, which owns New York Magazine and Channel One, and ...