May 2nd, 2014
08:50 AM ET

Harlequin swooped up by News Corp

By Brian Stelter, CNN

NEW YORK (CNNMoney) Harlequin has fallen for a charming billionaire.

News Corp (NWS), the publishing company chaired by Rupert Murdoch, said Friday that it would pay $415 million to acquire Harlequin, best known for romance novels sometimes nicknamed "bodice rippers." (Murdoch is, coincidentally, newly single.)

Harlequin, currently owned by Torstar Corporation, will become part of News Corp's HarperCollins Publishers. News Corp said the deal will give HarperCollins a bigger presence in a "key content vertical" and in markets outside the United States.

Almost a year ago, Murdoch's News Corporation spun its global television and film businesses like Fox News and Fox Sports into a new entity named 21st Century Fox; his newspapers and book publishing imprints remained a part of the much-reduced News Corp.

Read more of Brian's CNN Money story online here. 

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