K-III Holdings to Buy Book Clubs Operator
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<i> Associated Press</i>
NEW YORK — The K-III Holdings publishing concern has agreed to buy Reader’s Garden Inc., a privately held company that operates special-interest book clubs. Terms were not disclosed.
Reader’s Garden operates Reader’s Subscription book club, which features fiction and nonfiction titles, classic literature and poetry, and Garden Book Club for gardeners. Its sales are estimated at $5 million a year.
The acquisition is being made through K-III’s Newbridge Communications division.
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