Lagardere to Acquire Time Warner Book Group
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"This acquisition of the Time Warner Book Group represents an ambitious strategic move for our book publishing operations, which have proven to be a source of revenue growth and improved profitability," says Arnaud Lagardère, general and managing partner of Lagardère. "It shows my willingness to develop our book publishing unit, to expand in the U.S.--core market for the media industry--and my personal confidence in Arnaud Nourry. I welcome the people of the illustrious Time Warner Book Group. Their new home is dedicated to the values of the book publishing industry and, with Arnaud Nourry as their leader, they will be in very good hands."
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