WORLD : Murdoch Wins Book Firm Takeover
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LONDON — Media tycoon Rupert Murdoch emerged victorious today from a long-running takeover battle after Scottish publisher William Collins accepted his offer valuing the company at $721 million.
The Glasgow-based firm, which numbers Soviet leader Mikhail S. Gorbachev and Ken Follett among its authors and the Bible among its publications, is one of Britain’s biggest independent publishing companies.
Apparently to head off a revolt by several leading Collins writers concerned that Murdoch control would affect editorial policy, Murdoch’s News International arm pledged that Collins’ management and in-house policy will retain autonomy. Some writers, including Follett, had threatened to defect.
Collins and Murdoch’s News Corp. each own half of U.S. publisher Harper & Row.
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