Rupert Murdoch’s News Corp. is close to an agreement to buy the consumer arm of educational publisher Houghton Mifflin Harcourt Co., Dow Jones reported.
The deal may be announced as early as Monday, according to the report, which cited sources who asked not to be identified. No terms were given.
This would be News Corp.’s second publishing deal in less than a week. The New York media giant said Thursday that it had agreed to buy Investor’s Business Daily for $275 million. A purchase of the Houghton Mifflin unit would give it access to high-profile novels from authors including George Orwell and J.R.R. Tolkien.
News Corp. declined to comment. A representative for Houghton Mifflin didn’t immediately respond to a requests seeking comment over the weekend.
Houghton Mifflin’s shares rose about 80% so far this year to $5.98 as of March 26, giving it a stock market value of about $762 million.
Bloomberg LP, the parent of Bloomberg News, competes with News Corp. and IBD in providing financial data and information. News Corp. is the owner of Dow Jones & Co.
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March 29, 2021 at 06:27AM
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News Corp. Nears Deal for Houghton Mifflin Unit, Dow Jones Says - Bloomberg
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