Late last year, it was announced by Houghton Mifflin Harcourt Books & Media that they were looking to sell their trade division as part of its restructuring efforts aimed at accelerating its transition from a print-based publisher to a “pure-play learning technology company.”
Harper Collins, the second largest publisher in the U.S. expressed interest about acquiring HMH (owned by Rupert Murdoch’s News Corp), and they agreed to buy the HMH trade division in March for $349 million. Despite the thoughts on the Simon & Schuster purchase by Penguin Random House and how that may affect the HMH purchase, the deal was quickly approved.
Brian Murray, HC’s CEO, said, “Like HarperCollins, HMH has a long and storied history of publishing award-winning authors. There are many outstanding titles—from children’s classics to contemporary fiction and lifestyle works—that can benefit from our combined experience and global reach.” He continued: “I look forward to working closely with Ed and the entire HMH Books & Media team to see how we can share best practices for the mutual benefit of our combined organizations. We will continue to provide additional information about the transition as we work together to integrate our businesses.”