Harper Collins Hafton receives part of Mifflin Harcourt

Announced last November, the sale of the general public “Books and Media” arm of the American publishing group Houghton Mifflin Harcourt (HMH) was finally completed in less than five months. Harper Collins, a subsidiary of News Corp Group, acquired the subsidiary for $ 349M (€ 296M). Harper Collins handles all employees of the structure.

Separating from general literature, HMH will be able to focus on the education sector (from early childhood to secondary school) and its digital development, but also to reduce its debt. Its catalog also includes the works of JRR Tolken in North America Red maid By Margaret Atwood and Little prince De Saint-Exupéry, very popular cookbooks and several series of children’s books such as curious George or Passer-by. The subsidiary has also developed its own audio-visual production studio, which recently launched a new adaptation Carmen Sandiego For Netflix.

Fixed transactions are expected to occur in the second quarter of 2021.

HMH achieved a turnover that should reach $ 905 to $ 955M in 2020. After several years of decline, HMH “Books & Media”, which represented only 13% of the group’s revenue, experienced strong growth. Last year with CA $ 192M (about 20%). % Of the group’s revenue). HMH was ranked 15th in the most recent “Global 50 of World Publishers” published by Liverus Hebdo last September.

HarperCollins, ranked 9th in the same ranking, can thus progress one or two places in the world hierarchy with a turnover of over 1.7 billion euros a year. The acquisition was taken by Penguin Random House in November as Simon & Schuster, a takeover disputed by authors’ unions in the United States and the United Kingdom, and is the subject of investigation by the authority. British competition.

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About the Author: Rusty Kemp

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