News Corp (ASX:NWS) to buy HMH Books & Media Segment

News Corp (ASX:NWS) entered into an agreement to acquire the Books & Media segment of Houghton Mifflin Harcourt.

The business will be operated by HarperCollins Publishers, a News Corp subsidiary.

In calendar year 2020, over 60 per ceng of HMH Books & Media revenues were generated by its formidable backlist.

Among the most popular of the more than 7000 titles in the HMH Books & Media backlist are: The Lord of the Rings trilogy and other titles by J.R.R. Tolkien; 1984 and Animal Farm by George Orwell; and All the King’s Men by Robert Penn Warren, among many others.

HarperCollins currently has rights to J.R.R. Tolkien’s works in the British Commonwealth.

Shares in News Corp (ASX:NWS) are trading 0.96 per cent lower at $30.80.
 
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Source: Finance News Network