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:

Thom Rainer: LifeWay faces 'hinge moments'

News image

LifeWay Christian Resources is facing "hinge moments" and decisions that...

READ MORE

Virginia shooting ‘frightening’ for Christian retailer

News image

One local Christian retailer experienced “a frightening morning” early Wednesday...

READ MORE

Parable Group, InspireHub help churches

News image

The Parable Group has partnered with InspireHub Inc. to reach...

READ MORE

Erica Campbell, Sadie Robertson to host Dove Awards

News image

The Gospel Music Association (GMA) announced today that five-time GRAMMY...

READ MORE

Kingstone releases Christian comics app

News image

Kingstone Media announced today the launch of a new Kingstone...

READ MORE

Publisher expects Message Bible to reach young Catholics

News image

ACTA Publications and Tyndale House Publishers have partnered together and...

READ MORE

Chris Tomlin sells out Madison Square Garden

News image

Chris Tomlin saw a longtime vision come to life last...

READ MORE

Bible Society Australia acquires Koorong

News image

Bible Society Australia announced Tuesday the acquisition of Koorong, Australia’s...

READ MORE

Blackford Capital acquires Dickinson Press

News image

Dickinson Press, a full-service book manufacturer and printing services provider,...

READ MORE

New TobyMac album tops Christian charts

News image

TobyMac’s latest album, This Is Not a Test (Capitol Christian...

READ MORE

Bevere book debuts at No. 1 on Amazon list

News image

John Bevere’s Good or God? Why Good Without God Isn’t...

READ MORE

New Day presents redesigned VeggieTales products

News image

New Day Christian Distributors announced Tuesday the first line of VeggieTales...

READ MORE
100%
-
+
0
Show options

a