Houghton Mifflin Harcourt Acquires Award-Winning Culinary Program, Webster’s New World Reference Titles and CliffsNotes Guides

  Houghton Mifflin Harcourt Acquires Award-Winning Culinary Program, Webster’s
  New World Reference Titles and CliffsNotes Guides from John Wiley & Sons,
  Inc.

  Acquisition to include segment-leading assets and brands such as the Betty
Crocker series, Better Homes and Gardens line, and Mark Bittman’s How to Cook
                             Everything franchise

Business Wire

BOSTON -- November 08, 2012

Houghton Mifflin Harcourt (HMH) today announced that its Trade & Reference
division has acquired the assets of John Wiley & Sons, Inc.’s (NYSE: JWa, JWb)
culinary portfolio, in addition to classic reference titles Webster’s New
World Dictionary and CliffsNotes.

Wiley’s celebrated cookbook collection includes the flagship Betty Crocker
series, in addition to other General Mills-branded lines, the Better Homes and
Gardens line licensed from Meredith Corporation, Mark Bittman’s How to Cook
Everything franchise – including the bestselling culinary app for iOS, and
high-profile authors such as Rose Levy Beranbaum, Marcus Samuelsson and Ellie
Krieger. This acquisition will complement HMH’s premier authors and cookbooks,
including Jacques Pépin, Dorie Greenspan, The Gourmet Cookbook and the Hello,
Cupcake! franchise.

“This strategic acquisition reflects HMH’s continued commitment to consumer
publishing, and represents an exciting growth opportunity within the culinary
market. Even as digital sales increase, the print cookbook segment shows
particular strength, both at HMH and within the market in general,” said Gary
Gentel, President of HMH’s Trade & Reference division. “The combination of
Wiley’s culinary, reference, and CliffsNotes lines with our existing business
will significantly strengthen HMH’s market position in both the culinary and
reference categories.”

Webster’s New World Dictionary is a dominant force in the back to school
market, and Webster’s New World College is the dictionary of choice for the
New York Times and the Associated Press. Together with HMH’s American Heritage
family of dictionaries, the company’s reference offerings will expand
significantly.

At HMH, CliffsNotes will continue its robust program of test-preparation and
literature study guides for high school and college students. CliffsNotes.com,
which maintains over two million unique visitors per month, will also migrate
to HMH. This will reinforce the company’s deep strength in test preparation
and assessment services, complementing its role as the largest provider of
K-12 educational materials in the U.S.

“We believe that HMH is well-positioned to provide the strategic focus
required for these assets to achieve their full potential and continue to
flourish,” said Mark Allin, Wiley’s Senior Vice President, Professional
Development. “While these assets have contributed to Wiley’s success to date,
Wiley is reshaping its portfolio to support growth opportunities in our
Professional Development; Scientific, Technical, Medical, and Scholarly; and
Global Education businesses, and create products and services that help
customers become more effective throughout their education and careers.”

Natalie Chapman, Vice President and Publisher at Wiley, is joining HMH to
manage the entire culinary program, reporting to HMH General Interest Group
Senior Vice President and Publisher Bruce Nichols. A number of Wiley
editorial, marketing, publicity, and production staff are also joining HMH as
part of the acquisition. As part of the new HMH culinary program, HMH Senior
Executive Editor Rux Martin will also launch her own imprint, Rux Martin
Books.

About Houghton Mifflin Harcourt

Houghton Mifflin Harcourt is a global learning company with the mission of
changing lives by fostering passionate, curious learners. Among the world’s
largest providers of pre-K–12 education solutions and one of its
longest-established publishing houses, HMH combines cutting-edge research,
editorial excellence and technological innovation to improve teaching and
learning environments and solve complex literacy and education challenges.
HMH’s interactive, results-driven education solutions are utilized by 60
million students in 120 countries, and its renowned and awarded novels,
non-fiction, children's books and reference works are enjoyed by readers
throughout the world. For more information, visit www.hmhco.com.

About Wiley

Wiley is a global provider of content-enabled solutions that improve outcomes
in research, education, and professional practice. Our core businesses produce
scientific, technical, medical, and scholarly journals, reference works,
books, database services, and advertising; professional books, subscription
products, certification and training services and online applications; and
education content and services including integrated online teaching and
learning resources for undergraduate and graduate students and lifelong
learners.

Founded in 1807, John Wiley & Sons, Inc. (NYSE: JWa, JWb), has been a valued
source of information and understanding for more than 200 years, helping
people around the world meet their needs and fulfill their aspirations. Wiley
and its acquired companies have published the works of more than 450 Nobel
laureates in all categories: Literature, Economics, Physiology or Medicine,
Physics, Chemistry, and Peace. Wiley's global headquarters are located in
Hoboken, New Jersey, with operations in the U.S., Europe, Asia, Canada, and
Australia. The Company's website can be accessed at http://www.wiley.com.

Contact:

Houghton Mifflin Harcourt
Lori Glazer, 212-420-5840
Vice President, Executive Director of Publicity
lori.glazer@hmhpub.com
or
Wiley
Susan Spilka, 516-315-7721 (mobile)
Vice President, Corporate Communications
sspilka@wiley.com
 
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