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Peter Simon was born September 27, 1943 in New York City, New York.
Simon began his career studying acting at the Phillips Exeter Academy. He attended Williams College in Williamstown, MA. Simon subsequently became a member of the professional repertory theater company at Purdue University, and also spent a season at the Barn Theater in Michigan 
Simon's best known work has been as an actor in daytime soap operas. His first role was as Scott Phillips on Search for Tomorrow (1969 to 1979). He left Search For Tomorrow, after he was replaced by actor Peter Ratray & around 1980 the character Scott was killed off. He appeared as Ian MacFarland on As the World Turns in 1979. In 1981, he began playing his most high-profile daytime role as Ed Bauer on the long-running soap Guiding Light. He played the role from 1981 to 1984, then returned for a second run from 1986 to 1996. His portrayal of Ed included a storyline that remains one of the most controversial ones on the show - the decision to kill off Ed's wife Maureen (played by Ellen Parker) in a car accident after learning of Ed's extramarital affair.
After several attempts to woo Simon back, GL convinced Simon to return to the show for a third run in 2002.  However, Simon publicly expressed disapproval during another controversial storyline that unfolded in 2003 and 2004. The storyline (regarding mysterious characters Maryanne and Carrie Carruthers) received criticism for revising past show history, and drew disdain from Simon in the press regarding a particular scene where it was scripted that Ed had to strike his daughter. Simon left the show again in 2004. 
Simon has done theater work as an actor and a playwright. His play, Sabbat, received its world premiere at his alma mater, Williams College, in 1968, directed by Keith Fowler, who was then a Williams faculty member. Among his New York theater appearances are roles in productions of P.S. Your Cat Is Dead off-Broadway, as well as a New York Shakespeare Festival production of "Twelfth Night".
Simon's first marriage to Merle Louise, with whom he had three children, ended in divorce. He married Search for Tomorrow co-star Courtney Simon in 1975, and the couple share five children (some from prior marriages, as well as one born to the couple).