HarperCollins has reached an agreement with Pearson for a multi-year, multi-platform publishing deal, the publisher announced today.
The deal includes a partnership with HarperCollins News Service, a global news service that offers more than 1.6 billion daily readers.
HarperCollins will become one of the world’s biggest publishers with the purchase of Pearson, which will be valued at $15.5 billion, the company said.
Pearson’s worldwide revenue will reach $1.3 trillion by 2021, up from $1 billion in 2021, according to the company.
“This new agreement will allow HarperCollins to be an important partner in the news media, offering consumers a wide variety of news and information services in a digital, connected world,” said John E. Schieffer, HarperCollins president and CEO.
“With this acquisition, we will also be able to expand our existing editorial presence in newspapers across the globe, including the U.S. and Canada, to include new titles, a growing portfolio of news brands and digital platforms.”
HarperCollins was founded in 2002 and operates with more than 2,000 employees worldwide.
“The HarperCollins name, and the enduring impact that it has had on our readers, is something that we are all deeply proud of, and I am thrilled to be part of this transaction,” said HarperCollins Chief Executive Officer and Chairman Robert J. Kagan.
“We have a strong history of developing and growing our publishing portfolio, which includes a growing digital and digital media library.
This will make HarperCollins a powerful publisher, offering readers access to news and content on a variety of platforms.”
In addition to Pearson, Harper Collins will also purchase the HarperCollins Group, a publishing company with more of a global footprint and operations in more than 60 countries.
Harper Collins News Service is owned by Penguin Random House.
Pearson is owned and operated by E Ink Publishing Group, which was acquired in 2016 by Pearson.