HarperCollins to Buy Houghton Mifflin’s Trade Publishing Unit [The New York Times]
Houghton Mifflin Harcourt Company (HMHC)
Last houghton mifflin harcourt company earnings: 2/27 07:00 am
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Source: The New York Times
HarperCollins, one of the five largest publishing companies in the United States, said on Monday that it had agreed to buy Houghton Mifflin Harcourt Books and Media, the trade publishing division of Houghton Mifflin Harcourt, for $349 million.The acquisition will help HarperCollins expand its catalog of backlist titles at a moment of growing consolidation in the book business. Houghton Mifflin publishes perennial sellers by well-known authors such as J.R.R. Tolkien, George Orwell, Robert Penn Warren, Philip Roth and Lois Lowry, as well as children’s classics and best-selling cookbooks and lifestyle guides.News of the sale wasreported earlier by The Wall Street JournalBy acquiring Houghton Mifflin, HarperCollins, which is owned by Rupert Murdoch’s News Corp, will be better able to compete as publishing has come to be dominated by the biggest players.The book business has been transformed by consolidation in the past decade, with themerger of Penguin and Random Housepurchase of the roma
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