Christian Retailing

NEWSLETTERS Current Issue HarperCollins to acquire Harlequin
HarperCollins to acquire Harlequin PDF Print E-mail
Written by Christine D. Johnson   
Tuesday, 06 May 2014 04:03 PM EDT

HarlequinWithTagline-resizedNews Corp announced May 2 that it has agreed to acquire Harlequin Enterprises from media company Torstar Corp. Harlequin will become a division of HarperCollins Publishers, a News Corp subsidiary, and will remain headquartered in Toronto.

As one of the world's leading publishers of women's fiction, Harlequin has issued titles in 34 languages and in over 100 international markets. The acquisition will extend HarperCollins' global platform, particularly in Europe and Asia Pacific, and is expected to accelerate the digital evolution of both companies.

Harlequin publishes the work of more than 1,300 authors and releases more than 110 titles monthly. Approximately 40% of Harlequin's revenues come from books published in languages other than English.  Currently, 99% of HarperCollins books are published in English.

"Harlequin is a perfect fit for the new News Corp, vastly expanding our digital platform, extending our reach across borders and languages, and is expected to provide an immediate lift to earnings," said Robert Thomson, chief executive of News Corp. "Harlequin has a devoted audience around the globe and an empathetic insight into contemporary cultures, which is itself a remarkable resource. This acquisition will broaden the boundaries of both HarperCollins and Harlequin, and is a significant step in our strategy to establish a network of digital properties in the growth regions of the world."

Craig Swinwood, publisher and CEO of Harlequin is "excited to be joining HarperCollins Publishers," he said. "This transaction will allow Harlequin to 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 grow our business."

The purchase price of the acquisition is C$455 million (US $415 million) in cash. Closing is anticipated by the end of the third quarter of calendar year 2014.

Literary Agent Steve Laube of The Steve Laube Agency noted that a large part of Harlequin’s sales is through direct-to-consumer mailing.

“This has what made them unique in the industry,” Laube said. “No one does it better. While some titles make it to the shelves, they stay in the retail environment for only a month until the next books in the line take their place.”

Laube noted that Harlequin’s Love Inspired and Heartsong Presents lines publish approximately 20 new romance novels each month. He posted on his website, stevelaube.com, that 240 new titles per year are “written with the Christian reader in mind,” making Harlequin “the single largest publisher of Christian fiction in the industry by sheer number of annual titles.”

 

In this current issue:

New program targets enhanced Christian retailer consumer traffic

News image

A new program has been launched to help Christian retailers...

READ MORE

Religion publishers report slight sales increase for January

News image

Net revenues from religion publishers were up 11.1 percent for...

READ MORE

AWSA announces 2015 Golden Scroll Award finalists

News image

The Advanced Writers and Speakers Association has announced its finalists...

READ MORE

Baker Academic title receivea Academy of Parish Clergy award

News image

The Church According to Paul by James W. Thompson (Baker...

READ MORE

NRF survey: Families spending more than ever on Mom

News image

Families this year are ready to splurge on jewelry, flowers,...

READ MORE

Brooklyn Tabernacle’s ‘Pray’ rises to Billboard no. 1

News image

The six-time Grammy award-winning Brooklyn Tabernacle Choir’s new CD titled...

READ MORE

Harvest House Publishers’ title reaches Christy Awards finals

News image

The Amish Blacksmith (Harvest House Publishers), a novel by best-selling...

READ MORE

Bethany House author scores Minnesota Book Award

News image

Bethany House writerJulie Klassen has been presented with a Minnesota...

READ MORE

Amazon introduces shopping app for Apple watch

News image

Amazon customers with an Apple Watch can simply tap the...

READ MORE

2015 Christy Awards finalists announced

News image

The Christy Awards Advisory Board has announced the following finalists...

READ MORE

Christian self-publisher to shut down

News image

CrossBooks, a Christian self-publishing company, has announced it will close...

READ MORE

Christian Small Publishers announce annual awards

News image

Christian Small Publishers Association has announced the winning titles for...

READ MORE
100%
-
+
0
Show options

a