HarperCollins, the second largest trade publisher in the U.S., has completed its acquisition of Houghton Mifflin Harcourt Books & Media according to Publishers Weekly. HC, owned by Rupert Murdoch’s News Corp, agreed to buy the HMH trade division in March for $349 million.
HC CEO Brian Murray acknowledged in a letter to employees that “many” decisions need to be made over the coming months surrounding the acquisition. Still, he noted that he has outlined an initial, temporary organizational plan that will be kept in place until a new, permanent structure has been conceived.
“Like HarperCollins, HMH has a long and storied history of publishing award-winning authors,” Murray wrote, adding that he believes that “there are many outstanding titles—from children’s classics to contemporary fiction and lifestyle works—that can benefit from our combined experience and global reach.” He continued: “I look forward to working closely with Ed and the entire HMH Books & Media team to see how we can share best practices for the mutual benefit of our combined organizations. We will continue to provide additional information about the transition as we work together to integrate our businesses.”