Torstar Corp. announced on Friday that it will be selling Harlequin to News Corp. for $455 million in cash. Harlequin will become a division of News Corp.’s HarperCollins.
“Harlequin has been an important part of Torstar over the past 39 years and we are very proud of the global success it has achieved,” said David Holland, President and Chief Executive Officer of Torstar in a news release.
HarperCollins and News Corp. approached Torstar about the sale. There have been no announcements on whether the HarlequinTEEN division and the HarperTeen divisions will be merged.