News Corp said it would purchase romance novel publisher Harlequin Enterprises Ltd from Canadian newspaper company Torstar Corp to boost its non-English book publishing.News Corp's HarperCollins book publishing unit will be the new home of Harlequin, a publisher of novels aimed at women with titles such as My Fair Billionaire and Expecting the CEO's Child.Torstar, owner of the Toronto Star, Canada's largest daily newspaper by circulation, said it was selling Harlequin for C$455 million ($415 million) in cash."Harlequin is a perfect fit for the new News Corp, vastly expanding our digital platform, extending our reach across borders and languages, and is expected to provide an immediate lift to earnings," said News Corp Chief Executive Robert Thomson.
News Corporation is a diversified media and information services company. Shares of NWSA traded higher by 1.65% or $0.28/share to $17.30. In the past year, the shares have traded as low as $14.39 and as high as $18.53. On average, 2957550 shares of NWSA exchange hands on a given day and today's volume is recorded at 2417947.
Source
