News Corp to Acquire HMH

News Corp, parent company of HarperCollins Publishers, has announced that it will acquire Houghton Mifflin Harcourt’s (HMH) publishing company, HMH Books & Media, for $349 million in cash.

HMH will become part of HarperCollins, the second-largest consumer book publisher in the world. The deal will add more than 7,000 titles to the HarperCollins backlist, including The Lord of the Rings trilogy and other titles by J.R.R. Tolkien, 1984 and Animal Farm by George Orwell, The Little Prince by Antoine de Saint-Exupéry, and works by Lois Lowry.

HMH first announced the possibility of a sale in November 2020 as a way to “reduce debt and build on the Company’s October 1 restructuring to align its cost structure to its digital-first, connected strategy, and create a pure-play learning technology company.”

For more information, see the press release.

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