News Corporation's Book Publishing Portfolio Gets a Romantic Foreign Flavour

News Corporation, or New Corp, has agreed to buy Canadian-based women's romance fiction publisher Harlequin Enterprises for CAD 455 million (USD 414 million) in cash. The deal is subject to a number of conditions and approvals and is expected to settle by the end of third-quarter calendar 2014. News Corp expects the transaction to be earnings accretive and to improve free cash flow. Harlequin will become part of News Corp subsidiary, HarpersCollins Publishers but will retain the Harlequin name and operate as a distinct business.