POCKET BOOKS HOLDERS CLEAR SIMON & SCHUSTER MERGER

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP88-01314R000300090009-5
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 16, 2016
• Document Release Date: November 9, 2004
• Sequence Number: 9
• Publication Date: March 31, 1966
• Content Type: NSPR

WALL STIZE1I
Approved For Release 2005/01/H WWDP88-01314R0
MAR 31 1966
Pocket Books Holders Clear
Simon & Schuster Merger
NEW YORK - Stockholders of Pocket
Books, Inc., approved a previously proposed
merger with Simon & Schuster, Inc.
Subject to favorable tax rulings, the merger
of the two book publishers is expected to take
place June 30.
Leon Shimkin, president of Pocket Books,
and his family own 55%,. of , the company's
3,000,145 outstanding common shares. Mr.
Shimkin also owns 50%, of Simon & Schuster.
The plan is, for Simon -& Schuster to acquire
the remaining 50%; interest from M. Lincoln
i Schuster for $2 million in cash. This would
give Mr. Shimkin 100% ownership, which he
then would sell to Pocket Books for 320,000
Pocket Books shares.
Although Pocket Books would be the sur-
viving corporation, it would .change its name
to Simon & Schuster.
S7TT
Approved For Release 2005/01/11 : CIA-RDP88-01314R000300090009-5