Photo by Spencer Platt/Getty Images Paramount is getting back into the business of books, nearly three years after previous ownership sold Simon & Schuster for more than $1.6 billion.
The David Ellison-led entertainment company says that it will launch Paramount Global Publishing this year, a new imprint that will both leverage Paramount’s library of characters, stories and intellectual property, and support the development of new original stories.
With franchise fatigue setting in across the industry, books have once again become a hot commodity for studios looking to adapt something with a built-in fanbase, but with original characters and stories. Books are also a part of world-building, helping to flesh out cinematic universes in interesting ways tht can eventually find their way back to the screen.
Paramount Global Publishing will live within the company’s products & experiences division, and will be led by head of global publishing Amy Jarashow, reporting to products & experiences president Josh Silverman.
The company is expected to work in print, digital and audio formats, in genres spanning all ages and demographics. Sales and distribution into retail will be handled by a to-be-determined partner.
Paramount will also continue its licensing strategy, working with other publishers and distributors on projects and titles.
The initial titles for Paramount’s effort, as well as its distribution partner, will be revealed later.
“Stories that originate on the page have a unique power to build immersive worlds, create compelling characters and forge deeper connections with fans,” said Silverman in a statement. “With the launch of Paramount Global Publishing, we’re expanding the reach of our most beloved franchises while also introducing original stories to audiences around the world.”
Paramount, of course, used to be a giant of the publishing business via Simon & Schuster, the home of Stephen King and Colleen Hoover, among many others. However a $2 billion deal to sell to Penguin Randomhouse was blocked by regulators, sparking a sale to KKR in 2023 for $1.6 billion. Simon & Schuster was deemed to be a “non-core” asset to Paramount, which was slimming down ahead of what became its sale to Skydance.
Paramount Global Publishing launches a few months after Fox launched its own imprint via HarperCollins (which shares common ownership in the Murdoch family). That project is also a two-way, with the imprint adapting Fox IP, while also developing original titles that could be adapted for the screen.
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