What Does News Corp’s Houghton Mifflin Harcourt Purchase Mean For Publishing? [Forbes]
Houghton Mifflin Harcourt Company (HMHC)
Last houghton mifflin harcourt company earnings: 2/27 07:00 am
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Source: Forbes
News Corp. is acquiring Houghton Mifflin Harcourt, whose titles include the "Lord of the Rings"... [+]books as well as a slew of other well-known titles.News Group via Getty ImagesNews Corp got leaner during the pandemic. Now the media conglomerate is signaling it’s ready to bulk up again in a move that signals a new focus as well as yet more consolidation in the publishing industry.Just days after announcing it would acquire Investor’s Daily in a deal worth $275 million, News Corp has made another mega-deal as it looks for sources of proven income amidst a pandemic that has hobbled many media rivals.News Corp will purchase Houghton Mifflin Harcourt’s consumer arm for a price of $349 million, giving the company a library of high-profile titles from authors including Virginia Woolf, George Orwell and J.R.R. Tolkien, as well as many popular children’s series, like Curious George, and cookbooks for adults.“Timeless writing is a timely source of revenue, and the potential to create highl
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