Harper Paying $200 Million for Nelson
Nov 07, 2011
Nov 07, 2011
News Corp. is paying $200 million for Thomas Nelson, the parent company of HarperCollins disclosed in its quarterly filing on Friday. In 2006, InterMedia paid $473 million for the publisher which had sales of $253 million at the time. Nelson’s current revenue is unavailable, but it is obvious that HC is paying something much closer to one-times sales than the close to two-time sales InterMedia paid five years ago.
The filing reiterated News Corp. still hopes to complete the purchase before the end of the year, following regulatory approval and the completion of other closing procedures.
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