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home / news releases / NWS - News acquires Houghton Mifflin Harcourt Books & Media segment for $349M cash

NWS - News acquires Houghton Mifflin Harcourt Books & Media segment for $349M cash

News Corporation
News Corp (NWS) has acquired the Books & Media segment of Houghton Mifflin Harcourt (HMHC) for $349M in cash.The business will be operated by HarperCollins Publishers, a News Corp subsidiary.In 2020, HMH Books & Media had strong growth with net sales of $191.7M and Adjusted EBITDA of $26.6M. HarperCollins expects to realize immediate cost savings, accumulating to more than $20M annually within two years, including manufacturing, distribution and other cost efficiencies and anticipates revenue synergies by leveraging its global scale and further expanding licensing opportunities.The acquisition is expected to close in 4Q21.HMHC +2.8% premarket.

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News acquires Houghton Mifflin Harcourt Books & Media segment for $349M cash
Stock Information
Company Name: News Corporation
Stock Symbol: NWS
Market: NASDAQ
Website: newscorp.com
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