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.