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Egmont Buys Reed Children's Books
Julia Eccleshare -- 5/11/98
Reed Children's Books has finally been sold to the Danish publisher Egmont. The deal has been rumored for several weeks but was finalized on April 25. It is believed that Egmont paid approximately L26.5 million, considerably less than the original asking price, which was in the region of L60 million.
The purchase includes Reed Children's Books' fiction and picture books and all of the licensed characters with the exception of Thomas the Tank Engine. As expected, the Britt Allcroft Company has acquired the Thomas the Tank Engine copyright from Reed for L13.5 million.

The new company will be known as Egmont Children's Books and will continue to be run by managing director Jane Winterbotham with Gill Evans as deputy managing editor. Ian Findlay from Egmont Holding will become the new chairman.
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