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Simon & Schuster is not growing old quietly.
The venerable publishing house — one of the industry’s so-called Big 5 — is celebrating its 100th birthday this month after a period of tumult that saw it put up for sale by its previous owner, pursued by its rival Penguin Random House in an acquisition bid that fell apart after the Justice Department won an antitrust suit, then bought for $1.62 billion last fall by the private equity firm KKR.
With conditions seemingly stabilized since then, the company is turning 100 at an auspicious time to celebrate its roots and look to its future. On this week’s episode, Gilbert is joined by Simon & Schuster’s publisher and chief executive, Jonathan Karp, to talk about the centennial and what it means.
“It was a startup 100 years ago,” Karp says. “It was two guys in their 20s. Richard Simon and Max Schuster. They were just a couple of guys who loved books. And they made a decision that they wanted to read every book they published. … The first book was a crossword puzzle book. It was a monster success. They’d actually raised $50,000 from their friends and family. They didn’t need it. They returned the money. And the company was up and running.”
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