Harlequin to be purchased by News Corp.

Many sources are reporting today that News Corp has agreed to acquire Harlequin Enterprises from Torstar Corporation. Harlequin will become a division of Harper Tor Collins Publishers. While this still needs to pass certain customary governmental approvals and stockholders, it appears to be one everyone is excited about. The purchase price of the acquisition is being reported at around $455 million. They will keep their headquartered in Toronto.

When I did a quick analysis of Harlequins total revenue divided by an estimated number their books released last year I estimated that their average book make their writers about $25,000 per year. This is not bad. There is no doubt that Harlequin has built one of the largest and most widely recognized consumer brands in publishing, with a highly focused publishing program for women and romance books. 

I assume that all writers with Harlequin are happy about this new development, but only time will tell just how good this works out. One thing is for sure; the publishing business is changing and will continue to do so for a long time.