WH Smith, who had been toying with buying some of the publishing companies owned by struggling entertainments conglom AOL Time Warner, have told reporters they will not be pursuing any deal. Reports suggested the retailer was considering acquiring Warner's book publishing assets (which include Little, Brown & Company and Warner Books) and merging them with their own publishing business Hodder Headline. But bosses at the company have said no deal will be done. One of the favourites to buy the Warners book company is now Bertelsmann, BMG's parent company. Elsewhere in the world of AOL Time Warner, the group's magazine publishing division has said it will end free access to the websites of some of its key titles, including Entertainment Weekly and People. Access will be limited to those who subscribe to individual magazines, and AOL customers.
Mar 31, 2003
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Smiths pull out of running for Warners book business
WH Smith will not pursue buying Warner's book publishing assets, and Bertelsmann is now seen as a favourite, while AOL Time Warner's magazines will limit free website access.