Houghton Mifflin Harcourt

File:Hmif.jpgIn 1832, William Ticknor and John Allen purchased a bookselling business in Boston and began to involve themselves in publishing; James T. Fields joined as a partner in 1843. Fields and Ticknor gradually gathered an impressive list of writers, including Ralph Waldo Emerson, Nathaniel Hawthorne, and Henry David Thoreau.{{cite book |last=Winship |first=Michael |date=1995 |title=American Literary Publishing in the Mid-Nineteenth Century: The Business of Ticknor and Fields |location=Cambridge |publisher=Cambridge University Press |pages=15–17, 20–21 |isbn=0521454697}} The duo formed a close relationship with Riverside Press, a Boston printing company owned by Henry Oscar Houghton. Houghton also founded his own publishing company with partner Melancthon Hurd in 1864, with George H. Mifflin joining the partnership in 1872.{{sfn|Ballou|1970|pp=55, 131}}

In 1878, Ticknor and Fields, now under the leadership of James R. Osgood, found itself in financial difficulties and merged its operations with Hurd and Houghton. The new partnership, named Houghton, Osgood and Company, and based in Boston's Winthrop Square,The Waldenses of To-day, George Edwin Waring Jr. (1879) held the rights to the literary works of both publishers.{{sfn|Winship|1995|pp=22-23}} When Osgood left the firm two years later, the business reemerged as Houghton, Mifflin and Company. Despite a lucrative partnership with Lawson Valentine, Houghton, Mifflin and Company still had debt it had inherited from Ticknor and Fields, so it decided to add partners. In 1884, James D. Hurd, the son of Melancthon Hurd, became a partner. In 1888, three others became partners as well: James Murray Kay, Thurlow Weed Barnes, and Henry Oscar Houghton Jr.{{sfn|Ballou|1970|pp=276-278, 303-304}}

Shortly thereafter, the company established an Educational Department, and from 1891 to 1908, sales of educational materials increased by 500 percent. The firm incorporated in 1908, changing its name to Houghton Mifflin Company.{{sfn|Ballou|1970|pp=494-495}} Soon after 1916, Houghton Mifflin became involved in publishing standardized tests and testing materials, working closely with such test developers as E. F. Lindquist. By 1921, the company was the fourth-largest educational publisher in the United States.

In 1961, Houghton Mifflin famously passed on Julia Child's Mastering the Art of French Cooking, giving it up to Alfred A. Knopf who published it in 1962. It became an overnight success, and is considered by many to be the bible of French cooking. Houghton Mifflin's strategic error was depicted in the 2009 film Julie & Julia.

In 1967, Houghton Mifflin became a publicly traded company on the New York Stock Exchange under the stock symbol "HTN".

In 1979, Houghton Mifflin acquired the complete catalog of Parnassus Press,{{cite book |last1=Copyrights |first1=United States Congress Senate Committee on the Judiciary Subcommittee on Patents, Trademarks, and |title=Copyright Law Revision: Hearings Before the United States Senate Committee on the Judiciary, Subcommittee on Patents, Trademarks, and Copyrights, Ninetieth Congress, First Session |date=1967 |publisher=U.S. Government Printing Office |page=1114 |url=https://books.google.com/books?id=AllFAQAAMAAJ&q=Parnassus+Press+Berkeley&pg=PA1114 |language=en |quote=Parnassus Press ; 2422 Ashley Avenue ; Berkeley , California 94705}}{{cite book |title=Bibliography of Spanish Materials for Children |url=https://files.eric.ed.gov/fulltext/ED048797.pdf |access-date=February 13, 2021 |quote=Parnassus Press 2422 Ashby Ave Berkeley, CA 94705}}{{cite book |title=Nongovernment Organization Codes for Military Standard Contract Administration Procedures (MILSCAP), United States and Canada, Code to Name |year=1974 |publisher=Department of Defense, Defense Logistics Agency, Defense Logistics Services Center |url=https://books.google.com/books?id=O9QxGDcc5h8C&q=Parnassus+Press+2422+Ashby+Ave+Berkeley,+CA+94705&pg=RA2-PA599 |access-date=February 13, 2021 |language=en |quote=Parnassus Press 2422 Ashby Ave Berkeley, CA 94705}} a Berkeley, California small press, established in 1957 by Herman Schein, the husband of writer-illustrator Ruth Robbins.{{cite web |title=Finding Aid to the Parnassus Press records, 1930-1989 (bulk 1955-1978) |url=https://oac.cdlib.org/findaid/ark:/13030/k61v5bw1/ |website=Online Archive of California |access-date=February 13, 2021 |quote=A beacon of publishing and children's literature on the West Coast, the complete catalog of the Parnassus Press were sold to Houghton Mifflin in 1979.}}{{cite web |title=Publisher: Parnassus Press |url=http://www.isfdb.org/cgi-bin/publisher.cgi?367 |website=isfdb.org |access-date=February 13, 2021}}{{cite web |title=Parnassus Press |url=https://www.worldcat.org/search?q=au%3A%22Parnassus+Press%22%2C&qt=hot_author#x0%253Abook-%2C%2528x0%253Abook%2Bx4%253Aprintbook%2529%2C%2528x0%253Abook%2Bx4%253Amss%2529%2C%2528x0%253Abook%2Bx4%253Amic%2529format |website=WorldCat.org |access-date=February 13, 2021 |language=en}}{{cite web |title=Parnassus Press |url=https://id.loc.gov/authorities/names/no2011063443.html |website=Name Authority File |publisher=Library of Congress |access-date=February 13, 2021}} Works by authors included: Ursula K. Le Guin, Theodora Kroeber, Nicolas Sidjakov, Edward Ormondroyd, Charlotte Zolotow, Anne B. Fisher, Allen Say, Beverly Cleary, Crawford Kilian, Adrien Stoutenburg, and Sam DeWitt. In 1979, Houghton Mifflin acquired Clarion Books, the children's division of Seabury Press.{{Cite news| issn = 0362-4331| last = Lask| first = Thomas| title = A 'Memoir' of Gandhi By Shirer Due in 1980| work = The New York Times| access-date = April 2, 2019| date = June 14, 1979| url = https://www.nytimes.com/1979/06/14/archives/a-memoir-of-gandhi-by-shirer-due-in-1980-new-encyclopedia-houghton.html}} In 1980, Houghton Mifflin acquired the educational publishing operations of Rand McNally.{{Cite web| title = Houghton Mifflin Company {{!}} Encyclopedia.com| accessdate = March 30, 2021| url = https://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/businesses-and-occupations/houghton-mifflin-company}}

Under (new from 1991) president Nader F. Darehshori Houghton Mifflin acquired McDougal Littell in 1994, for $138 million, an educational publisher of secondary school materials,{{cite web|url=http://www.fundinguniverse.com/company-histories/houghton-mifflin-company-history/ |title=History of Houghton Mifflin Company |publisher=Fundinguniverse.com |access-date=August 18, 2013}} and the following year acquired D.C. Heath and Company,{{cite web |url=http://mcdougallittell.com/ml/about.htm?page=history |title=About McDougal Littell |publisher=Mcdougallittell.com |access-date=August 18, 2013 |archive-url=https://web.archive.org/web/20130603132527/http://mcdougallittell.com/ml/about.htm?page=history |archive-date=June 3, 2013 |url-status=dead }} a publisher of supplemental educational resources. In 1995, HMH acquired Chapters Publishing, a publisher of cooking, garden, and craft titles.{{Cite journal| title = HM buys Vermont's Chapters| journal = Publishers Weekly| access-date = November 29, 2019| date = May 19, 1997| volume = 244| issue = 20| pages = 13–14| url = http://link.galegroup.com/apps/doc/A19420137/LitRC?sid=googlescholar}} In 1996, HMH created their Great Source Education Group to combine the supplemental material product lines of their School Division, McDougal Littell, and Heath.

In 1998, HMH announced a sub-brand called LOGAL Software, which was to release a new line of interactive science software called Science Gateways, to support the United States curriculum.{{Cite press release|url=http://www.prnewswire.com/news-releases/logal-software-inc-to-debut-science-gateways-product-line-78061512.html|title=LOGAL Software, Inc. to Debut Science Gateways Product Line|last=Ltd.|first=LOGAL Educational Software & Systems|website=www.prnewswire.com|access-date=January 17, 2017}} As of 2017, Houghton Mifflin Harcourt is offering the "Logal Science" brand as a licensing opportunity on its website.{{Cite web|url=http://www.hmhco.com/at-home/featured-shops/the-learning-company/licensing-opportunities|title=Licensing Opportunities|website=Houghton Mifflin Harcourt|access-date=January 17, 2017}}

Mergers and acquisitions (M&A) activities have had major effects on this company.

In 2001, Houghton Mifflin was acquired by French media giant Vivendi Universal for $2.2 billion, including assumed debt. Vivendi Universal already owned the British children's publisher Kingfisher, which became a Houghton Mifflin imprint.{{Cite web| title = HM Absorbs Kingfisher| work = PublishersWeekly.com| access-date = November 29, 2019| url = https://www.publishersweekly.com/pw/print/20011210/20910-hm-absorbs-kingfisher.html}} In 2002, facing mounting financial and legal pressures, Vivendi sold Houghton to private equity investors Thomas H. Lee Partners, Bain Capital, and Blackstone Group for $1.66 billion, including assumed debt (approximately 25% less than Vivendi had paid a year earlier).SUZANNE KAPNER AND ANDREW ROSS SORKIN.

"[https://query.nytimes.com/gst/fullpage.html?res=9B01E2D6103FF932A05753C1A9649C8B63 Market Place; Vivendi Is Said To Be Near Sale Of Houghton]." New York Times, October 31, 2002"[https://query.nytimes.com/gst/fullpage.html?res=9504E2DC133FF932A35752C0A9659C8B63 COMPANY NEWS; VIVENDI FINISHES SALE OF HOUGHTON MIFFLIN TO INVESTORS]." New York Times, January 1, 2003.

On December 22, 2006, it was announced that Riverdeep PLC had completed its acquisition of Houghton Mifflin. The new joint enterprise would be called the Houghton Mifflin Riverdeep Group. Riverdeep paid $1.75 billion in cash and assumed $1.61 billion in debt from the private investment firms Thomas H. Lee Partners, Bain Capital, and Blackstone Group.[http://www.bookdownloading.com/article/detail/irish-company-completes-houghton-mifflin-acquisition/ "Irish company completes Houghton Mifflin acquisition"] {{Webarchive|url=https://web.archive.org/web/20150909143218/http://www.bookdownloading.com/article/detail/irish-company-completes-houghton-mifflin-acquisition/ |date=September 9, 2015 }}, Bookdownloading.com, December 22, 2006. Tony Lucki, a former non-executive director of Riverdeep, remained in his position as the company's chief executive officer until April 2009.Edgecliffe-Johnson, Andrew and Peter Smith. [http://www.ft.com/cms/s/8d158afe-63c5-11db-bc82-0000779e2340.html "Riverdeep in talks over $3.5bn takeover of Houghton Mifflin"], Financial Times, October 25, 2006.

Houghton Mifflin sold its professional testing unit, Promissor, to Pearson plc in 2006.{{Cite web|title=Houghton Mifflin sells Promissor unit for $42M|url=https://www.bizjournals.com/boston/stories/2006/01/23/daily3.html|access-date=July 6, 2021|website=www.bizjournals.com}} The company combined its remaining assessment products within Riverside Publishing, including San Francisco-based Edusoft.

File:Houghton Mifflin Harcourt logo.svg

On July 16, 2007, Houghton Mifflin Riverdeep announced that it signed a definitive agreement to acquire the Harcourt Education, Harcourt Trade, and Greenwood-Heinemann divisions of Reed Elsevier for $4 billion. The expanded company would become Houghton Mifflin Harcourt. McDougal Littell was merged with Harcourt's Holt, Rinehart & Winston to form Holt McDougal.

In October 2007, Houghton Mifflin sold Kingfisher to Macmillan Publishers.{{Cite web| title = Macmillan Acquires Kingfisher| work = PublishersWeekly.com| access-date = November 29, 2019| url = https://www.publishersweekly.com/pw/by-topic/childrens/childrens-book-news/article/17526-macmillan-acquires-kingfisher.html}}

On December 3, 2007, Cengage Learning (formerly Thomson Learning) announced that it had agreed to acquire the assets of the Houghton Mifflin College Division for $750 million, pending regulatory approval.

On November 25, 2008, Houghton Mifflin Harcourt announced a temporary freeze on acquisition of new trade division titles, allegedly in response to the economic crisis of 2008.Trachtenberg, Jeffrey A. [https://www.wsj.com/articles/SB122757239732754777 "Writers' Block: Houghton Won't Acquire New Books"], Wall Street Journal, November 25, 2008. The publisher of the trade division resigned, apparently in protest.[http://www.salon.com/wires/ap/entertainment/2008/12/02/D94QLLP80_books_publisher_quits/index.html]{{dead link|date=August 2013}} Many observers familiar with the publishing industry saw the move as a devastating blunder.[http://www.mediabistro.com/galleycat/the_revolving_door/houghton_mifflin_harcourt_breakdown_nobody_could_see_this_coming_102251.asp] {{webarchive|url=https://web.archive.org/web/20081206072324/http://www.mediabistro.com/galleycat/the_revolving_door/houghton_mifflin_harcourt_breakdown_nobody_could_see_this_coming_102251.asp|date=December 6, 2008}}{{cite news| url=https://www.nytimes.com/2008/12/28/weekinreview/28streitfeld.html?_r=1&em | work=The New York Times | first=David | last=Streitfeld | title=Bargain Hunting for Books, and Feeling Sheepish About It | date=December 28, 2008}}

Harcourt Religion was sold to Our Sunday Visitor in 2009.{{cite press release|url=http://www.prweb.com/releases/Harcourt_Religion/Catholic_Publisher/prweb2497814.htm |archive-url=https://web.archive.org/web/20090608183351/http://www.prweb.com/releases/Harcourt_Religion/Catholic_Publisher/prweb2497814.htm |url-status=dead |archive-date=June 8, 2009 |title=A New Day in Catechesis – Our Sunday Visitor Acquires Harcourt Religion Publishers from Houghton Mifflin Harcourt |publisher=Prweb.com |date=June 5, 2009 |access-date=August 18, 2013}}

On July 27, 2009, the Irish Independent newspaper reported that Houghton Mifflin Harcourt's controlling shareholder EMPG was in the process of a re-structuring negotiations with its unsecured-debt holders that would lead to the conversion of the debt into equity. The news story reported that the unsecured debt holders would receive a 45% equity stake. As a result, the royal family of Dubai via their Istithmar World Capital investment vehicle became major stakeholders.{{cite news|url=http://www.independent.ie/business/world/dubais-royal-family-to-buy-up-stake-in-empg-1843677.html |title=Dubai's royal family to buy up stake in EMPG |work=Irish Independent |date=July 28, 2009 |access-date=August 18, 2013}} Estimates were that EMPG would cut its debt from $7.3bn to $6.1bn. On August 15, 2009, the Financial Times reported in an interview with Houghton Mifflin Harcourt's CEO at the time, Barry O'Callaghan, that the refinancing had received approval of more than 90% of lenders. The terms included the holding company debt converting into 45% of the fully diluted common equity, an effective 25 percent relaxation of financial covenants, second lien lenders agreeing to convert their holdings into a PIK instrument, reducing annual interest costs by $100m, and a further $50m increase its working capital facility.{{cite web|last=Edgecliffe |first=Andrew |url=http://www.ft.com/cms/s/0/defa4846-8933-11de-b50f-00144feabdc0.html |title=EMPG refinancing will cut $7.6bn debt |work=Financial Times |date=August 15, 2009 |access-date=August 18, 2013}}

A further restructuring of Houghton Mifflin Harcourt's debts was confirmed by the company on January 13, 2010.{{cite web|url=http://www.ft.com/cms/s/0/80ee0426-00ad-11df-ae8d-00144feabdc0.html |title=EMPG pushes for financial shake-up |work=Financial Times |date=January 14, 2010 |access-date=August 18, 2013}} The proposed restructuring materially impacted the shareholders of EMPG, the former holding company of Houghton Mifflin Harcourt.Potential wipe out of EMPG's shareholders

On February 22, 2010, Houghton Mifflin Harcourt announced that EMPG and HMH had reached an agreement to restructure the finances of the company and recapitalize its balance sheet with a substantial fresh cash investment by institutional investors.{{cite web |url=http://www.bookdownloading.com/article/detail/houghton-mifflin-harcourt-secures-new-650-million-cash-investment-and-recapitalizes-balance-sheet-in-historic-restructuring/ |title=Houghton Mifflin Harcourt Secures New $650-Million Cash Investment and Recapitalizes Balance Sheet in Historic Restructuring |publisher=Bookdownloading.com |access-date=May 31, 2015 |archive-url=https://web.archive.org/web/20150909151521/http://www.bookdownloading.com/article/detail/houghton-mifflin-harcourt-secures-new-650-million-cash-investment-and-recapitalizes-balance-sheet-in-historic-restructuring/ |archive-date=September 9, 2015 |url-status=dead }}

The agreement, supported by 100% of HMH's creditors, highlighted a reduction in the senior debt to $3 billion from the current $5 billion, with new equity issued to the senior debt holders (including Paulson & Co. and Guggenheim Partners),{{cite news|url=https://www.wsj.com/articles/SB10001424052748704454304575081652306551196 |title=Houghton Mifflin Parent Company Restructures Debt - WSJ.com |publisher=Online.wsj.com |date=February 23, 2010 |access-date=August 18, 2013}} conversion of the $2 billion mezzanine debt into equity and warrant, receipt of $650m of new cash from the sale of new equity. In addition to the key highlights, HMH announced its new $100m Innovation Fund, to invest in the next generation of technology for the education industry.

The Irish Times{{cite news| url=http://www.irishtimes.com/newspaper/finance/2010/0223/1224265034016.html|title=EMPG agrees $650 cash injection | newspaper=The Irish Times|access-date=February 24, 2015}} reported that the investments by the then equity holders of EMPG, including HMH's CEO at the time, Barry O'Callaghan, private clients of Davy Stockbrokers, Reed Elsevier, and others of over $3.5 billion would be written down to zero. Additionally, the Irish Independent reported that following the restructuring, the investors of EMPG would have a nominal investment in Houghton Mifflin Harcourt via warrants over 5% of the company if it exceeded the $10 billion valuation{{cite news|url=http://www.independent.ie/business/irish/empg-restructuring-an-end-for-old-order-2074843.html |archive-url=https://archive.today/20130217194722/http://www.independent.ie/business/irish/empg-restructuring-an-end-for-old-order-2074843.html |url-status=dead |archive-date=February 17, 2013 |title=EMPG restructuring an end for old order |publisher=Independent.ie |date=February 23, 2010 |access-date=August 18, 2013 }} placed on the company at the time of the merger between Houghton Mifflin Riverdeep and Harcourt. In addition to the warrants in HMH, the EMPG shareholders would continue to own a stake in the international investment vehicle, EMPGI which has stakes in China, the Middle East and elsewhere.

The Financial Times reported{{cite web|last=Edgecliffe |first=Andrew |url=http://www.ft.com/cms/s/0/afcee2aa-2011-11df-81a2-00144feab49a.html |title=Debt deal averts HMH bankruptcy |publisher=FT.com |date=February 23, 2010 |access-date=August 18, 2013}} that no management changes were expected as part of the deal with both the CEO at the time, Barry O'Callaghan and the CFO, Michael Muldowney expected to remain in their roles. The Times reported that a new nine-member board was to be created with the CEO the only executive representative, one independent, two representative of Paulson & Co, and one director from each of Apollo, BlackRock, Guggenheim Partners, Fidelity and Avenue Capital.

On March 10, 2010, Houghton Mifflin Harcourt announced that it had completed its re-capitalization.{{cite web|url=http://www.businesswire.com/portal/site/boston10/permalink/?ndmViewId=news_view&newsId=20100310005207&newsLang=en |title=Houghton Mifflin Harcourt Announces Successful Completion of Balance Sheet Recapitalization |publisher=Business Wire |date=March 10, 2010 |access-date=August 18, 2013}} In addition to a new investment of $650 million of equity, the debt levels of the company were reduced by approximately 60% and the annual interest payments by over 75%. According to the Irish State Broadcaster, RTÉ, the old equity investors based in Ireland has lost all their investment.{{cite news|url=http://www.rte.ie/news/2010/0310/epmg-business.html |title=O'Calaghan firm completes debt deal – RTÉ News |publisher=Rte.ie |date= March 10, 2010|access-date=August 18, 2013}} The Irish Independent reported that the old shareholders were denied a shareholders meeting to vote or discuss the restructuring.{{cite news|url=http://www.independent.ie/business/irish/shareholder-anger-over-empg-deal-2095087.html |archive-url=https://archive.today/20120802120905/http://www.independent.ie/business/irish/shareholder-anger-over-empg-deal-2095087.html |url-status=dead |archive-date=August 2, 2012 |title=Shareholder anger over EMPG deal |publisher=Independent.ie |date=March 11, 2010 |access-date=August 18, 2013 }} The former shareholders have been left with warrants over 5% of the company, in the case its value recovers to previous levels.

On September 19, 2011, it was announced that Linda K. Zecher would be replacing Barry O'Callahan as chief executive officer and Director of Houghton Mifflin Harcourt after O'Callahan resigned. In July 2012, Zecher detailed her plans for post-bankruptcy to D.C. Denison at The Boston Globe.{{Cite web|last=Denison|first=D.C.|date=June 24, 2012|title=Bankruptcy over, Boston's Houghton Mifflin looks ahead|url=https://www.bostonglobe.com/business/2012/06/23/linda-zecher-chief-executive-houghton-mifflin-harcourt/t2jvDrsYjsBAqzJBfk6zlL/story.html|website=The Boston Globe}} Zecher went to HMH from Microsoft.{{cite web|url=http://www.hmhco.com/about-hmh/executive-leadership|title=Houghton Mifflin Harcourt: Executive Leadership|access-date=April 20, 2017}}

In 2012, HMH acquired the culinary and reference portfolio of John Wiley & Sons, including CliffsNotes and Webster's New World Dictionary.{{Cite web | title = In Deal With Wiley, Houghton Acquires Cookbooks and CliffsNotes | work = Media Decoder Blog | date = November 8, 2012 | access-date = September 6, 2014 | url = http://mediadecoder.blogs.nytimes.com/2012/11/08/in-deal-with-wiley-houghton-acquires-cookbooks-and-cliffsnotes/ }}

HMH went public in November 2013.{{cite news|url=https://www.reuters.com/article/houghtonmifflinharcourt-ipo-idUSL4N0IZ0HP20131114|title=Textbook publisher Houghton Mifflin Harcourt prices IPO at $12 a share|date=November 14, 2016|access-date=April 20, 2017|newspaper=Reuters}}

In 2014, Houghton Mifflin Harcourt sponsored Curious George (TV series) on PBS Kids replacing Chuck E. Cheese.

On May 13, 2014, HMH bought Channel One News. In 2015, Houghton Mifflin struggled to find a charity that would accept royalties for Mein Kampf by Adolf Hitler.{{Cite web|url=https://www.cbsnews.com/news/hitlers-mein-kampf-boston-publisher-rethinks-handling-of-proceeds|title = Hitler's "Mein Kampf": Boston publisher rethinks handling of proceeds|website = CBS News| date=June 30, 2016 }}

On February 15, 2017, John J. ("Jack") Lynch Jr., the former CEO of Renaissance Learning, was named the new CEO of Houghton Mifflin Harcourt.{{Cite web|url=http://epaper.bostonglobe.com/popovers/dynamic_article_popover.aspx?guid=30c8188e-c775-466b-a99b-acaedcd4e6ab|title=Publisher Houghton Mifflin names new CEO - The Boston Globe|website=epaper.bostonglobe.com|access-date=January 28, 2020}}

In 2018, HMH sold its Steck-Vaughn adult education titles to Paxen Publishing and its Riverside test publishing subsidiary to Alpine Investments.{{Cite web|last=Henry|first=Alexa J.|date=April 13, 2018|title=K-12 Dealmaking: Key Data Systems Acquires Progress Testing, Edmentum Raises $25 Million, Kahoot! Forms Partnership With Code.Org|url=https://marketbrief.edweek.org/marketplace-k-12/k-12-dealmaking-edmentum-connexeo-booknook-raise-funds-key-data-systems-acquires-progress-testing/|access-date=April 27, 2020|work=Market Brief}}{{Cite web| last = Smith| first = Rich| title = Why Houghton Mifflin Harcourt Company Stock Just Popped 14% Today| work = The Motley Fool| access-date = May 2, 2020| date = September 13, 2018| url = https://www.fool.com/investing/2018/09/13/why-houghton-mifflin-harcourt-company-stock-just-p.aspx}}

In 2017, it was announced that Houghton Mifflin Harcourt would be getting involved in TV production with a planned 2019 Netflix series that will revive the Carmen Sandiego franchise.{{Cite web |title='Carmen Sandiego,' New Animated Series, Coming to Netflix in 2019 |url=https://media.netflix.com/en/press-releases/carmen-sandiego-new-animated-series-coming-to-netflix-in-2019 |access-date=April 21, 2017 |website=Netflix Media Center |language=en}}

In April 2023, HMH acquired NWEA, a not-for-profit academic assessment company.{{Cite press release |last=Harcourt |first=Houghton Mifflin |title=HMH Completes Acquisition of NWEA |url=https://www.prnewswire.com/news-releases/hmh-completes-acquisition-of-nwea-301811887.html |access-date=May 1, 2023 |website=www.prnewswire.com |language=en}}{{Cite web |last=Writer |first=Emma Kate Fittes Staff |date=May 1, 2023 |title=Houghton Mifflin Harcourt Closes Deal Acquiring NWEA |url=https://marketbrief.edweek.org/marketplace-k-12/houghton-mifflin-harcourt-closes-deal-acquiring-nwea/ |access-date=May 1, 2023 |website=Market Brief |language=en-US}}

On March 29, 2021, The Wall Street Journal reported that HarperCollins, a division of American mass media and publishing company News Corp, had reached a deal to buy HMH Books & Media for US$349 million. The sale includes HMH's trade publishing division and computer video game franchises such as Carmen Sandiego and The Oregon Trail. The deal would allow HMH to pay down its debt so it could further its digital-first strategy in educational publishing.{{cite news |last1=Cimilluca |first1=Jeffrey A. Trachtenberg and Dana |title=News Corp to Buy Houghton Mifflin Harcourt's Consumer-Publishing Arm for $349 Million |url=https://www.wsj.com/articles/news-corp-nears-deal-to-buy-houghton-mifflin-harcourt-s-consumer-publishing-arm-11616970992 |access-date=March 29, 2021 |work=The Wall Street Journal |date=March 29, 2021}} The deal was completed on May 10.{{cite press release|title=News Corp Completes Acquisition of Houghton Mifflin Harcourt Books & Media Segment|url=https://www.businesswire.com/news/home/20210510005535/en/News-Corp-Completes-Acquisition-of-Houghton-Mifflin-Harcourt-Books-Media-Segment|publisher=News Corp|via=Business Wire|date=May 10, 2021}}

On February 22, 2022, a tender offer was announced by Veritas Capital to acquire HMH at a price of $21 per share, or about $2.8 Billion.{{Cite news |date=February 22, 2022 |title=Veritas Capital to buy Houghton Mifflin for $2.8 bln |language=en |work=Reuters |url=https://www.reuters.com/legal/transactional/veritas-capital-buy-houghton-mifflin-28-bln-2022-02-22/ |access-date=April 8, 2022}} The tender deadline was originally April 1, before being extended to April 6 on March 29.{{Cite web |date=March 29, 2022 |title=Expiration Date of Tender Offer for Houghton Mifflin Harcourt Extended to April 6, 2022 |url=https://www.businesswire.com/news/home/20220329005578/en/Expiration-Date-of-Tender-Offer-for-Houghton-Mifflin-Harcourt-Extended-to-April-6-2022 |access-date=April 8, 2022 |website=www.businesswire.com |language=en}} Prior to the tender date, the stock generated a lot of hype on internet forum WallStreetBets, with over 36,000 contracts traded for the June 17 $22.5 strike price call options.{{Cite web |last=Whales |first=Unusual |date=April 6, 2022 |title=A Review of Unusual Options Activity in Houghton Mifflin Harcourt Co (HMHC), iShares Global Clean Energy ETF. (ICLN), and Cenovus Energy Inc. (CVE) |url=https://www.nasdaq.com/articles/a-review-of-unusual-options-activity-in-houghton-mifflin-harcourt-co-hmhc-ishares-global }} Many investors purchased call options based on numerous reports from institutional investors with large stakes in the company, claiming that the $21 per share offer was undervaluing the company.{{Cite news |title=Significant Shareholder Prasad Phatak Sends Letter to Houghton Mifflin Harcourt Company Board of Directors Opposing Veritas Capital Transaction |url=https://www.businesswire.com/news/home/20220306005045/en/Significant-Shareholder-Prasad-Phatak-Sends-Letter-to-Houghton-Mifflin-Harcourt-Company-Board-of-Directors-Opposing-Veritas-Capital-Transaction}} On April 6, 57% of $HMHC shares were put up for tender, leading to the tender offer going through and HMH going private.{{Cite web |title=Houghton Mifflin Harcourt Successfully Completes Sale to Veritas Capital |url=https://finance.yahoo.com/news/houghton-mifflin-harcourt-successfully-completes-110000469.html |access-date=April 8, 2022 |website=finance.yahoo.com |language=en-US}} Once the sale was completed, the stock of Houghton Mifflin Harcourt was delisted from Nasdaq.

On September 22, 2016, Zecher resigned from HMH and was replaced by Interim CEO and Board Member L. Gordon Crovitz. Crovitz is a former publisher of the Wall Street Journal.{{cite web|url=http://www.hmhco.com/media-center/press-releases/2016/september/hmh-management-news|title=Houghton Mifflin Harcourt Announces Management Change|date=September 22, 2016 |access-date=April 20, 2017}} On February 15, 2017, John J. "Jack" Lynch Jr., the former CEO of Renaissance Learning, was named the new CEO of HMH.{{cite web|last=Conti|first=Katheleen|date=February 15, 2017|title=Houghton Mifflin names new CEO|url=https://www.bostonglobe.com/business/2017/02/15/houghton-mifflin-names-new-ceo/KhVCWqDx1XKK5IZFVVhTyM/story.html|access-date=April 20, 2017|work=The Boston Globe}}

Lynch brought former employee Jim O'Neill back to the company to lead the core division as GM and EVP.{{Cite web|last=Molnar|first=Michele|date=October 19, 2017|title=Houghton Mifflin Harcourt Launches New Leadership Team|url=https://marketbrief.edweek.org/marketplace-k-12/houghton-mifflin-harcourt-launches-new-leadership-team/|access-date=January 28, 2020|website=Market Brief|language=en-US}}

HMH is also formerly home to media brands like Carmen Sandiego and The Oregon Trail; and brands including The Whole30; The Best American Series; The American Heritage and Webster's New World Dictionaries; Better Homes and Gardens; How to Cook Everything; the Peterson Field Guides; CliffsNotes; and many children's books, including the "Curious George" series and The Little Prince; as well as publishing the works of J. R. R. Tolkien for United States distribution.

Some other noted books include:

• The Handmaid's Tale, Margaret Atwood (1987) (E-book version){{Cite web|title=The Handmaid's Tale|url=https://www.hmhbooks.com/shop/books/The-Handmaids-Tale/9780547345666|url-status=live|archive-url=https://web.archive.org/web/20210118044248/https://www.hmhbooks.com/shop/books/The-Handmaids-Tale/9780547345666|archive-date=January 18, 2021|access-date=April 22, 2021|website=Houghton Mifflin Harcourt}}{{Cite book|title=The Handmaid's Tale - Margaret Atwood|url=https://books.google.com/books?id=ZrsVZKWJg4UC|url-status=live|archive-url=https://web.archive.org/web/20190714234908/https://books.google.com/books?id=ZrsVZKWJg4UC|archive-date=July 14, 2019|access-date=April 22, 2021|website=Google Books|isbn = 0547345666|last1 = Atwood|first1 = Margaret|date = February 17, 1986| publisher=HarperCollins }}

• {{C|Educational publishing companies}}
• Books in the United States
• McGraw-Hill Education
• Pearson Education

{{Reflist}}

• {{cite book |first=Ellen B. |last=Ballou |title=The Building of the House: Houghton Mifflin's Formative Years |location=Boston |publisher=Houghton Mifflin Company |date=1970}}

{{Wikisource publisher|Houghton, Mifflin & Co.}}

{{Commons category|Houghton Mifflin Company}}

• {{official website|https://www.hmhco.com/}}
• [https://findingaids.library.columbia.edu/ead/nnc-rb/ldpd_4078911 Finding aid to the Houghton Mifflin Company letters (1859–1860) at Columbia University. Rare Book & Manuscript Library.]

{{Houghton Mifflin Harcourt}}

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