Vivendi Woes Roil Foreign-Dominated Textbook Sphere
Little more
than a year after it was acquired for $2.2 billion by a French media
company, the educational publisher Houghton Mifflin Co. now bears a
sign that says: À Vendre. That's "for sale," in French.
eIts parent, Vivendi Universal SA, has faced a financial crisis over the past several months and needs cash. So in August, after it had first reassured employees that Houghton Mifflin would not be sold, the Paris-based conglomerate reversed course and put the publisher on the block.
Then, potential suitors expressed interest not just in Boston-based Houghton but also in buying the rest of the division known as Vivendi Universal Publishing. The larger unit controls a variety of publishing properties in Europe and Latin America as...
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