HarperCollins Publishers is to Acquire Thomas Nelson

HarperCollins Publishers, a subsidary of media magnate Rupert Murdoch's News Corporation, has announced that it has entered into a "definitive agreement" to acquire the Nashville-based Thomas Nelson, Inc. for an undisclosed sum, reports Dan Wooding, Founder of ASSIST Ministries.
According to a news release from HarperCollins, the acquisition, which is expected to close by the end of the calendar year, is subject to regulatory clearances and other customary closing conditions.
Lyn Cryderman, a former Zondervan publisher, is quoted by CNN as saying the move makes “HarperCollins the largest Christian publisher in the United States.”
Brian Murray, president and CEO of HarperCollins Publishers Worldwide, cited Thomas Nelson's wide reach into “books, Bibles, e-books, journals, audio, video, curriculum and digital applications” as a reason for the acquisition.
HarperCollins is the parent company of Zondervan, a Bible publisher whose Christian authors include megachurch pastor Rick Warren.
“Thomas Nelson adds further balance to our existing publishing programs,” Murray said in a press release. “Its broad inspirational appeal is a good complement to Zondervan, which will continue to publish books consistent with its mission.”
Dan Merica wrote in a CNN blog, “HarperCollins is a subsidiary of News Corporation, a multinational media company headed by Rupert Murdoch, the media magnate who earlier this year was plagued by hacking and phone-tapping allegations at some of his publications in the United Kingdom.
“During the hacking scandal, some of Zondervan's authors questioned how a company who owns the rights to the world's best-selling English bible, the New International Version, could be associated with ethics violations.
“Zondervan distributes books to over 100 countries.”
He went on to say, “Though HarperCollins' acquisition brings both Zondervan and Thomas Nelson under the same corporate umbrella, Casey Francis, director of corporate communications at Thomas Nelson said for the time-being the publisher is ‘still operating as competitors’ with Zondervan.
“According to a report by Publishers Weekly, HarperCollins expects to close on the acquisition by the end of the year and it is unclear as to whether after that point that two companies will publish separately.”
Thomas Nelson is one of the leading trade publishers in the United States. The Company provides multiple forms of inspirational content including: books, Bibles, e-books, journals, audio, video, curriculum and digital applications available for download on “smart” electronic devices. It has published some of the bestselling books in the industry, including the current #1 bestseller Heaven Is For Real, and the books of many popular authors, such as Billy Graham, Max Lucado, and Dave Ramsey.
“Founded in 1798 in Edinburgh, Scotland, Thomas Nelson shares a long and rich heritage with both New York’s Harper Brothers and Scotland’s William Collins & Sons. It is thus with great pleasure that I look forward to welcoming Thomas Nelson to the HarperCollins family,” said Brian Murray, President and CEO of HarperCollins Publishers Worldwide.
“HarperCollins’ global print and digital publishing platform, which includes e-book distribution into more than 175 markets, Print-on-Demand, Digital-to-Print at Retail, and worldwide marketing reach, provides an opportunity to further expand the readership of Thomas Nelson’s distinguished authors.”
“Additionally, Thomas Nelson adds further balance to our existing publishing programs. Its broad inspirational appeal is a good complement to Zondervan, which will continue to publish books consistent with its mission,” added Murray.
“We are excited to be joining HarperCollins Publishers,” said Mark Schoenwald, President and CEO of Thomas Nelson. “We believe this 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.”
According to BookStats, a survey conducted by two major trade groups that was released in August, in 2010, overall sales in the religion market were $1.35 billion.
 
About HarperCollins Publishers
HarperCollins, one of the largest English-language publishers in the world, is a subsidiary of News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV). Headquartered in New York, HarperCollins has publishing groups around the world including the HarperCollins General Books Group, HarperCollins Children’s Books Group, Zondervan, HarperCollins UK, HarperCollins Canada, HarperCollins Australia/New Zealand and HarperCollins India. HarperCollins is a broad-based publisher with strengths in literary and commercial fiction, business books, children's books, cookbooks, mystery, romance, reference, religious and spiritual books.
With nearly 200 years of history HarperCollins has published some of the world's foremost authors and has won numerous awards including the Nobel Prize, the Pulitzer Prize and National Book Award, the Newbery Medal and the Caldecott. Consistently at the forefront of innovation and technological advancement HarperCollins is the first publisher to digitize its content and create a global digital warehouse to protect the rights of its authors, meet consumer demand and generate additional business opportunities. You can visit HarperCollins Publishers on the Internet at http://www.harpercollins.com.
 
About Thomas Nelson, Inc.
Thomas Nelson, Inc., headquartered in Nashville, TN, is one of the leading trade publishers in the United States. The Company is the world’s leading provider of Bibles, inspirational books and digital content, with product distribution in over 100 countries. Live Event Management, Inc., a Thomas Nelson company, is a national leading producer of live events. For more information, please visit www.thomasnelson.com.