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Random House Canada Becomes Sole Owner of McClelland & Stewart

January 10, 2012
By Michael Cader

Random House Canada has acquired the University of Toronto’s 75 percent share in McClelland & Stewart, making RHC the sole owner of the storied Canadian house. Apparently the University has handed over their interest, telling us in a statement that “the University is not receiving any financial compensation.” They write that “publishing is not a core business of the University of Toronto,” and that “the Canadian government has authorized the sale of McClelland & Stewart to Random House. As a result, UofT is able to divest itself of its shares in the company. The University has used its ownership position […]

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Filed Under: Finance, International News

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