News Corp. will acquire Harlequin Enterprises from Torstar for C$455 million (the final price was $414 million in US dollars, net of $19 million in cash on Harlequin’s balance sheet). Harlequin will become a division of HarperCollins but will remain headquartered in Toronto. Torstar originally acquired control of Harlequin in 1975 and full ownership in 1981. Both parties said they expect the deal to close by the end of September, pending approval by regulatory bodies in both US and Canada, as well as Torstar shareholders. (It’s possible that the deal would be subject to review in other territories as well, primarily […]
