Pearson Apparently Set to Buy Seagram Unit
British publisher Pearson agreed to buy Putnam Berkley Publishing Group from Seagram Co.’s MCA Inc. for about $350 million, sources told Bloomberg Business News. The sale of the New York-based publisher of best-selling author Tom Clancy and others may be announced today. Executives for Pearson, MCA, Seagram and Putnam could not be reached or declined to comment. MCA is selling some assets to concentrate on its film, record, television and theme park businesses. For Pearson, Putnam would add a U.S. publisher to its Penguin Group and Longman imprints.
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