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HC takes full control of India arm
30.11.12 | Joshua Farrington
HarperCollins has taken full control of its India arm, following 10 years of running it in partnership with Living Media India (LMI).
With the terms of that partnership coming to an end, HarperCollins India has become a wholly owned subsidiary of HarperCollins Worldwide with immediate effect.
Brian Murray, president and c.e.o. of HarperCollins Publishers Worldwide, said: "While we have enjoyed a successful joint venture relationship with LMI, we are very pleased to take full ownership of HarperCollins India. As the second-largest English-speaking country in the world, we see India as an area of growth both for titles from all our global imprints being published into the region, as well as for local Indian authors being published in
other markets through our HarperCollins 360 program.
"This is yet another way to expand the reach of our authors' works."
C.e.o.of HarperCollins UK and International, Victoria Barnsley said: "Our fruitful relationship with LMI over the last decade has firmly established HarperCollins India as a trusted brand. Aroon Purie and his team have been fantastic partners and we have greatly enjoyed building the business together. At this time of enormous change, due to the increased possibilities of digital distribution, we are looking forward to this new
chapter in our development in India, a market with a burgeoning audience with a great appetite for reading."
HarperCollins India has grown turnover tenfold since launching in 2003, winning several awards for local publishing including the Man Booker Prize for Aravind Adiga's White Tiger and the Pulitzer Prize for Siddhartha Mukherjee's The Emperor of All Maladies.
The company publishes in English and in Hindi across a range of genres.
P.M. Sukumar, c.e.o. of HarperCollins India said: "It has been an exciting and immensely satisfying journey for us thus far. We now look forward to building further on the solid foundations provided by the partnership with LMI with increased focus on our local publishing program, building up the HarperCollins US range to it full potential and drawing on HarperCollins' global expertise in digital media to deliver our content to audiences in
India and worldwide."