Harcourt General to Buy Mosby From Times Mirror

Posted on May 6, 1998

Harcourt General, Inc. and The Times Mirror Company jointly announced that Harcourt General has signed a definitive agreement to acquire Mosby, Inc., Times Mirror's professional health sciences publishing business, in a transaction valued at $415 million. Mosby, which publishes more than 3,000 books and 100 periodicals in nursing, allied health and medicine, has annual revenues of approximately $225 million. Harcourt General, through its W.B. Saunders and Churchill Livingstone businesses, is a leading medical publisher of approximately 3,300 books and 230 periodicals in print and electronic formats.

Richard A. Smith, chairman and chief executive officer of Harcourt General, said, "This is a strategic acquisition which gives us a strong worldwide position in the medical publishing industry, which accounts for about $1.8 billion in annual revenues in the United States alone. Mosby publishes in 31 foreign languages and sells its publications in 41 countries. Its strength in the fields of nursing, allied health and medicine complements our existing health science publishing business, giving us a well-rounded line-up of health sciences publications to sell throughout the world."

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