Harcourt Mulls Selling Some Assets
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ORLANDO, Fla. — Harcourt Brace Jovanovich Inc., which has vowed for months that none of its assets were for sale, said Wednesday it is discussing the possible sale of a portion of its publishing business.
Peter Jovanovich, president and chief executive officer, said the Orlando-based corporation has begun preliminary discussions involving the sale of some or all of its existing debt at a discount, or the purchase of “certain assets of the company by a third party.”
The statement followed a report earlier Wednesday that former U.S. Sen. Eugene McCarthy, who has served for a decade on HBJ’s board, said discussions had been under way with Thomson Corp. of Canada for a month.
The report by Dow Jones News Service said McCarthy did not know whether HBJ or Thomson made the initial overture.
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