HarperCollins Publishers recently announced that it had officially closed on the acquisition of Thomas Nelson, Inc., one of the largest Christian publishers in the world.
In a brief announcement on July 11, HarperCollins, which is a subsidiary of News Corporation, said Thomas Nelson “will continue to operate as an independent company with its unique editorial focus on inspirational and Christian content.”
Details, such as how Thomas Nelson will benefit from HarperCollins’ global print and digital platform, “will be forthcoming,” it added.
Last October, HarperCollins announced that it had entered into a “definitive agreement” to acquire Thomas Nelson “for an undisclosed sum.”
The acquisition, which was expected to close by the end of that calendar year, was subject to regulatory clearances and other closing conditions.
Notably, HarperCollins is also owner of Zondervan. Together, Zondervan and Thomas Nelson reportedly control half of the Christian publishing market, with Thomas Nelson controlling about two times Zondervan’s part.
“Thomas Nelson adds further balance to our existing publishing programs,” remarked Brian Murray, President and CEO of HarperCollins Publishers Worldwide, in the announcement last October.
“Its broad inspirational appeal is a good complement to Zondervan, which will continue to publish books consistent with its mission,” he said.
Adding to that, Mark Schoenwald, President and CEO of Thomas Nelson, said the 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,” he stated.
Published: July 26, 2012