HarperCollins Buys Harlequin

News Corp (which own HarperCollins) will purchase romance publisher Harlequin from its parent Torstar for $415 million. The sale is expected to be completed by September 2014, pending government approval in the US and Canada, and Torstar shareholder approval.

Harlequin headquarters will remain in Toronto, with its CEO Craig Swinwood reporting to HarperCollins CEO Brian Murray. Swinwood says Harlequin will “continue to operate as a distinct and successful brand within a larger publishing company. We’re excited to be able to take full advantage of HarperCollins’ robust resources, scale and capabilities to expand the reach of our books and growing business.”

For more, see the story in Publishers Weekly.