Rupert Murdoch Bought Harlequin for $415 Million

Rupert Murdoch's News Corp has bought Harlequin - peoplewhowrite
Good news for romance writers? Rupert Murdoch’s News Corp just picked up Harlequin for nearly half a billion dollars, adding the Toronto-based romance novel publisher to its HarperCollins portfolio. According to the New York Times, the acquisition “is consistent with the company’s broader strategy of investing more heavily in the publishing industry. In 2011, the company bought the religious publisher Thomas Nelson Inc. In 2012, it tried to buy Simon & Schuster from CBS, but the two companies could not agree on terms.”

Harlequin’s digital publishing technology and the romance industry’s vanguard transition to e-books was of specific interest to News Corp, according to Brian Murray, the chief executive of HarperCollins.