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Hachette Book Group drops plan to buy Perseus - WSJ
August 8, 2014 / 11:27 AM / 3 years ago

Hachette Book Group drops plan to buy Perseus - WSJ

Aug 8 (Reuters) - U.S. publisher Hachette Book Group, owned by France’s Lagardere SCA, has dropped its plan to buy unlisted Perseus Books Group, citing complications in closing the deal, the Wall Street Journal reported.

Hachette said in June it would keep Perseus’s books business and sell its client services business to unlisted book distributor Ingram Content Group.

The financial details of the deal were not specified.

The selling of the client services businesses "ultimately doomed the deal," the Journal reported, citing people familiar with the situation. (on.wsj.com/1pgeLMA)

Perseus, owned by private-equity firm Perseus LLC, brings out about 700 titles per year and has a backlist of more than 6,000 books.

Hachette Book Group, Perseus and Ingram Content Group could not immediately be reached for comment. (Reporting by Supantha Mukherjee in Bangalore; Editing by Joyjeet Das)

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