The July 2012 acquisition of Thomas Nelson by HarperCollins helped improve the earnings of the parent company.
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In a statement regarding its "favorable" second quarter that ended Dec. 31, HarperCollins said: "Once again, the company benefitted from the acquisition of Nelson and the continued growth of e-book sales."
News Corp., which owns HarperCollins, said the book publishing business related to the Nelson acquisition more than offset lower advertising revenues from its Australian newspapers. The acquisition helped to boost the parent company's quarterly publishing income to $234 million, an increase of $16 million compared to the same period a year ago.
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SOURCE: Christian Retailing