Rupert Muroch’s News Corp said Monday it will acquire the Books & Media segment of Houghton Mifflin Harcourt for $349 million in cash and merge it with HarperCollins amid ongoing consolidation in the book publishing business.HMH Books & Media has an extensive backlist, “a sustainable and growing source of revenues, high margins and cash flow for publishers, particularly evergreen properties with broad, enduring and global appeal,” News Corp.
said announcing the deal. In calendar year 2020, over 60% of HMH Books & Media revenues were generated by its backlist, which includes The Lord of the Rings trilogy and other titles by J.R.R.
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