As it appears more and more likely that Viacom will split itself into two companies, it is not entirely clear which entity Simon & Schuster will call home.
S&S CEO Jack Romanos said that "for modeling purposes," the publisher currently is slated to become part of the CBS-TV, Infinity Radio and outdoor advertising group, which will house Viacom's "mature" businesses and be overseen by Leslie Moonves. Romanos added, however, that no final decision has been made and that it is possible the book publisher could end up in the sexier cable and film company, to be headed by Tom Freston. A third option, that S&S may be sold, has been denied by the company. S&S would likely cost a buyer about $1 billion.
Viacom said last week that a decision about dividing the company will be made before the end of the second quarter.
S&S had a solid first quarter, with sales up 6%, to an estimated $160 million. Two titles from veteran bestselling author Mary Higgins Clark led the gains. Sales on the adult side were also boosted by Jodi Picoult's new Vanishing Acts as well as the trade paperback edition of My Sister's Keeper. Dan Brown's Angels & Demons, a bestseller for S&S in paperback and hardcover last year, had strong reorders in the first quarter, predominantly in paperback, Romanos said.
In the children's group, sales of He's Just Not That Into You were solid in the quarter and the group received a boost from Kira-Kira by Cynthia Kadohata, which won the Newbery Award in the period.
Looking ahead to some broader issues, Romanos said S&S's direct-to-consumer initiative is on schedule to go live in either August or September.
