In a presentation to analysts on Tuesday at the UBS Media Conference, CBS CEO Leslie Moonves said Simon & Schuster’s new sales agreement with Amazon is “much more reasonable for the publisher,” and a “better system” in which both S&S and its authors will do better than under the existing sales terms.
The agreement deals with pricing, “but appropriately,” Moonves said, adding he couldn’t discuss any of the details of the agreement. He commended S&S CEO Carolyn Reidy for doing a "phenomenal job" and praised S&S for reaching a deal with Amazon "on its own"
Moonves called S&S “a little gem,” but that CBS had no plans to get involved in mergers or acquisitions in the book space. “We’re not looking to buy or sell,” he said.