Harlequin, one of the biggest publishers of women's fiction, is set to become a division of HarperCollins Publishers, a News Corp subsidiary. Currently, Harlequin publishes over 110 new titles each month, with these issued world wide in 34 languages (99% of HarperCollins titles are published in English).
The News Corp website stated: "The acquisition will extend HarperCollins’ global platform, particularly in Europe and Asia Pacific, helping to fuel its international growth strategy... It will also accelerate the digital evolution of both companies." No doubt this is a move to help compete with the less recent merger between Penguin and Random House, as well as the digital domination of e-commerce giant Amazon.
Robert Thomson, Chief Executive of News Corp has said:
Harlequin is a perfect fit for the new News Corp, vastly expanding our digital platform, extending our reach across borders and languages, and is expected to provide an immediate lift to earnings. Harlequin has a devoted audience around the globe and an empathetic insight into contemporary cultures, which is itself a remarkable resource. This acquisition will broaden the boundaries of both HarperCollins and Harlequin, and is a significant step in our strategy to establish a network of digital properties in the growth regions of the world."
Brian Murray, President and CEO of HarperCollins stated:
Harlequin has built one of the largest and most widely recognized consumer brands in publishing with a highly focused publishing program for women. We are thrilled to welcome Harlequin’s management and staff in Toronto and around the world to the HarperCollins family. The Harlequin name and rich heritage will be preserved independently, with the aim to leverage capabilities to bring the book-reading public more choices. Harlequin’s business has grown internationally, and will give HarperCollins an immediate foothold in 11 new countries from which we can expand into dozens of foreign languages for authors who choose to work with us globally."
From Harlequin's end, Craig Swinwood, Publisher and CEO said:
We are excited to be joining HarperCollins Publishers. This transaction will allow Harlequin to continue to operate as a distinct and successful brand within a larger publishing company. We’re excited to be able to take full advantage of HarperCollins’ robust resources, scale and capabilities to expand the reach of our books and grow our business.”
For full coverage of the acquisition, visit the News Corp website, here.