Lagardere SCA's (MMB.FR) Hachette Book Group agreed to acquire
Hyperion, a book unit of Walt Disney Co.'s (DIS) ABC Television
Group, for an undisclosed price, bolstering Hachette Book's
backlist of titles, particularly on the nonfiction front.
Hyperion is a boutique publisher best known for such titles as
Mitch Albom's "The Five People You Meet in Heaven" and a range of
cookbook authors, including Sandra Lee and Nigella Lawson.
Its sales have declined in recent years, according to publishing
executives. Hachette said that it is acquiring more than 1,000
books, including 25 titles scheduled for publication later this
year.
Earlier this year Disney put Hyperion's backlist of older titles
on the market. At the time, Disney said it would retain Hyperion,
focusing on books linked to Disney's television properties or works
that it thought could be extended to television or other
entertainment areas.
In the end Disney sold the entire adult Hyperion publishing
line, except for what it describes as "franchised-based titles"
from its television group, which it will continue to publish via
Disney Publishing Worldwide, its children's book arm.
Hachette was seen to have the inside track on the purchase
because Hachette is already distributing Hyperion books. "As
Hyperion's sales and distribution partner, we know the books and
writers on the list well and look forward to taking on full
publishing responsibilities," said Michael Pietsch, CEO of the
Hachette Book Group, in a statement.
The deal comes shortly before the expected completion of the
merger of two of the world's largest consumer book publishers,
Bertelsmann SE & Co.'s Random House and Pearson PLC's (PSON.LN
PSO) Penguin Group. The continued shift to digital reading is
likely to lead to more mergers among major publishers, and perhaps
more sales of smaller publishers as well.
Write to Jeffrey A. Trachtenberg at
jeffrey.trachtenberg@wsj.com
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