Simon & Schuster, the publishing powerhouse behind best-selling authors like Stephen King, Ursula K. Le Guin and Judy Blume, is up for sale.

Its owner, ViacomCBS, announced Wednesday that, after a “strategic review,” the book publisher was no longer essential to its business and that it would seek a buyer.

“We will look to complete a transaction that maximizes its value once the market stabilizes,” Robert M. Bakish, the chief executive, wrote in a memo to employees, most of whom learned of the sale only on Wednesday.

ViacomCBS, the newly combined business controlled by Shari Redstone, is betting its future on streaming and sports content. Owning a major book publisher does not fit into those plans.