|News Corp completes Harlequin Enterprises acquisition|
|Written by Christine D. Johnson|
|Monday, 04 August 2014 11:27 AM EDT|
News Corp announced Aug. 1 that the company had completed its acquisition of Harlequin Enterprises from Torstar Corp., extending the global platform and digital presence of its HarperCollins Publishers subsidiary.
As previously announced, Harlequin will operate as a division of HarperCollins and remains headquartered in Toronto, as do the offices of HarperCollins Canada.
“We are pleased to formally welcome Harlequin and its employees to the new News,” said Robert Thomson, chief executive of News Corp. “The addition of such an iconic brand with a loyal audience, robust global expertise and digital depth is a proud and purposeful moment for our company. Onward to the next chapter.”
Brian Murray, CEO of HarperCollins Publishers, was similarly pleased.
“We are happy to welcome Harlequin staff and authors into the HarperCollins family and excited to work together to expand the breadth of our publishing activities into more than 30 languages,” Murray said.
Harlequin is one of the world’s leading publishers of women’s fiction. The company’s titles are issued in 33 languages and are sold in more than 100 international markets. Harlequin has offices in 17 countries.
The purchase price for the acquisition was C$455 million in cash, subject to certain adjustments, and the transaction was completed following approval by regulatory authorities and shareholders of Torstar.
Click here for our previous story and its impact on the Christian market.