IT was announced on 31st October that HarperCollins Publishers has entered into a definitive agreement to acquire Thomas Nelson, Inc. for an undisclosed sum. The acquisition, which is expected to close by the end of 2011, is subject to regulatory clearances and other customary closing conditions.
The impact of this impending acquisition on the world of Christian publishing is not yet clear but with both Zondervan and Thomas Nelson part of the HarperCollins/News Corp. family it is likely that some job losses will be inevitable.
Clearly one impact is that Rupert Murdoch now becomes the leading Christian publisher in the world, something which might not sit comforatbly with some ;people given News Corp’s. recent troubles following the ‘phone hacking’ scandal at the now defunct News of the World.
It also brings into the HarperCollins family such authors as Billy Graham, Max Lucado, Brian McLaren and also the current world bestseller ‘Heaven is for Real’ by Todd Burpo.
Brian Murray, President and CEO of HarperCollins Publishers Worldwide, said of the acquisition: “Thomas Nelson adds further balance to our existing publishing programs. Its broad inspirational appeal is a good complement to Zondervan, which will continue to publish books consistent with its mission.”
Mark Schoenwald, President and CEO of Thomas Nelson commented; “We believe this transaction represents an attractive strategic fit for our company. With HarperCollins’ resources and capabilities to draw on, we will capitalize on the many opportunities in this rapidly changing world of publishing.” Source: Christian Marketplace
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