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Carol Merger with Batsford Unlikely
-- 3/2/98
It appears as though the proposed merger between Carol Publishing and the U.K.'s Batsford Communications PLC will not be consummated. According to Carol publisher Steven Schragis, Batsford has been unable to get the necessary financing together. "I'm disappointed the deal has not gone through, but I know they've tried to make it work," Schragis said. He added that the two companies continue to do business together, and would not rule out the possibility that a merger may be done at a later date.
The deal, worth approximately $13 million, was to close by the end of 1997.
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