News adds digital rival and lucrative book backlist

Mar 29, 2021 at 11:36 pm by Staff


News Corp has announced two purchases - of a financial daily and a book publisher.

The 'books and media' segment of Houghton Mifflin Harcourt will be operated by subsidiary HarperCollins Publishers, bringing to News an extensive backlist and a "history of strong profitability", the company says.

Investor's Business Daily - which News will acquire from O'Neil Capital Management for $275 million - will be operated by Wall Street Journal publisher Dow Jones, another subsidiary.

Established in 1984, IBD is reported to have been experiencing "double-digit revenue growth" in recent years, more than 90 per cent of it coming from digital.


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