By announcing Vivendi Universal's $2.2 billion acquisition of educational publisher Houghton Mifflin Co. in New York, rather than in their respective hometowns of Paris or Boston, Vivendi chairman and CEO Jean-Marie Messier underscored his designs on the top of the U.S. business and media hierarchy...
Luckily for Houghton Mifflin, the disproportionate amount of revenue is derived from the right segment. "The K-12 market is the single biggest market for publishers at this time," said Baran Rosen, director of New York-based media investment bank Whitestone Communications, Inc. "The government is always throwing money into education and teachers are always looking for new ways to teach students. As a result, it's not uncommon for publishers in that space to have 30% to 40% growth year-over-year."
This is an excerpt from an article in The Daily Deal; June 4 ,2001
