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HMH Strikes Deal for Greenwood with ABC-CLIO

ABC-CLIO/HMH Arrangement Offers Promise of Expanded Publishing

A financial agreement with Flipbook publisher Houghton Mifflin Harcourt (HMH) offers the promise of an expansion in the publishing services of ABC-CLIO, which is currently known for its academic works. Specifically, the new deal will give ABC-CLIO a perpetual license to use the imprints and publish the titles of the HMH subsidiary, Greenwood Publishing Group, which was acquired from the British-Dutch firm Reed Elsevier as part of Harcourt’s own expansion in the field. The deal involves the imprints of Greenwood Press, Praeger Publishers, Praeger Security International and Libraries Unlimited, which together have published more than 18,000 titles in addition to various electronic materials.
Although it is not an outright purchase, the deal will make possible the transfer of such Greenwood assets as inventory, copyrights and contracts. The specific financial terms of the arrangement have not be disclosed. A spokesman for HMH said the deal will give his company the chance to benefit from its own growth, while ABC-CLIO President Becky Snyder said it will give her firm “all we need” in terms of expanding its business. According to Ron Boehm, the chief executive officer of ABC-CLIO, the new arrangement between the publishers should “dovetail nicely,” adding that there should be “little overlap” between their editorial services.
Based in Santa Barbara, Calif., ABC-CLIO may as part of its new arrangement consider establishing a presence on the East Coast. However, it is unlikely that the firm will use Greenwood’s current office in Westport, Conn. The transaction includes a 90-day service agreement to work out staffing and office use, and ABC-CLIO is in the process of evaluating these issues. Snyder has expressed hope that the major decisions in these areas will be made within a month. She also noted that ABC-CLIO must also fill at least 90 positions, noting that Greenwood employees will be given priority in terms of placement.
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