Los Angeles Business Journal

Disney Sells Publishing Unit to Hachette

By Deborah Crowe Friday, June 28, 2013

Hachette Book Group on Friday announced that is has agreed to buy part of Walt Disney Co.’s book business, which has published best-sellers by Mitch Albom, Jamie Oliver and Michael J. Fox.

New York City-based Hachette gets more than 1,000 books that the Hyperion unit has published since launching in 1991. Hachette has been Hyperion’s distributor.

“We know the books and writers on the list well and look forward to taking on full publishing responsibilities," Michael Pietsch, Hachette chief executive, said in a statement.

Terms of the deal were not disclosed. Burbank-based Disney keeps its Disney-Hyperion book line and other Disney publishing imprints for children and youth, typically based on its film and TV properties.

Disney shares closed down 57 cents, or 1 percent, to $63.15 on the New York Stock Exchange.