Simon & Schuster may soon be for sale.

President and CEO Carolyn K. Reidy sent a memo to S&S staff today stating that “ViacomCBS CEO Bob Bakish announced that the company is beginning the process by which ViacomCBS will potentially sell Simon & Schuster. Whatever the outcome, this process does not change what we know to be true of Simon & Schuster: we are a great publishing house and one of the world’s best known publishing brands, with an incredible legacy and bright future.”

There are no specific details available at this point, but Reidy writes that updates will be provided when there are developments to share, acknowledging the distractions of “rumor and speculation.”

Although the memo doesn’t confirm that a sale is inevitable, Bakish said at a San Francisco investor conference on March 2 that S&S “is not a core asset. It is not video-based. It does not have significant connection for our broader business.”

S&S was purchased by Viacom in 1994 as part of its acquisition of Paramount Communications. In 2006, S&S became part of CBS Corporation when the two companies split. Simon & Schuster Canada, which is headquartered out of Toronto, is a division of S&S.