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News > Deals
Co-publisher wanted
July 8, 1997: 10:15 a.m. ET

News Corp.'s Murdoch shops for partners for publishing unit
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NEW YORK (CNNfn) - News Corp.'s Chief Executive Rupert Murdoch is looking at various strategic alliances for the company's HarperCollins publishing unit.
     News Corp. has been approached Anthea Disney, president and chief executive of HarperCollins, confirmed to CNNfn through a spokeswoman. News of the talks were first reported in Tuesday's edition of the Wall Street Journal.
     No specific names of interested parties were identified. Industry officials believe Bantam Doubleday Dell Publishing Group, a unit of Bertelsmann AG, is a likely partner, according to the Journal.
     The development indicates that News Corp. is willing to reduce its ownership stake in the book publisher amid the weaker business conditions for the industry in recent years.
     Still, Murdoch denied recurrent rumors that the entire unit was on the chopping block. His goal is to create an alliance that would reduce operating costs by combining so-called back-room operations such as warehousing and distribution.Back to top

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