At a UBS media conference earlier this week, Bob Bakish, CEO of Simon & Schuster parent company Paramount Global, said that with the sale to Penguin Random House now dead, the company still plans to divest the publisher, though he didn’t say exactly how.

“We haven’t changed our point of view,” Bakish said. “[S&S] is not a core asset, because it is not a video asset. Our company is a video company.” He added: “We are going to do something in the marketplace with it as we move forward,” although what and when that will be is still to be determined.