Rupert Murdoch is set to acquire a whole lot of classic family and kids’ IP. His News Corp has announced that it will buy HMH Books & Media, the consumer arm of publisher Houghton Mifflin Harcourt, for $349 million. The unit will be merged with Harpercollins Publishers, which News Corp also owns.
HMH Books & Media has a vast portfolio of kids’ and adult literature. Many of its books have been adapted into animation and live-action, including The Lord of the Rings, Jumanji, The Polar Express, Animal Farm, The Little Prince, and Mike Mulligan and His Steam Shovel. HMH also owns plenty of popular characters like Carmen Sandiego, currently starring in her own Netflix animated series, and Curious George, which has been adapted to both television and feature.
The sale, which is subject to regulatory approvals and other customary closing conditions, is expected to close in the fourth quarter of fiscal 2021.
