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Article: Random House and Broderbund reach preliminary agreement to restructure Living Books partnership.
- Article from:
- Business Wire
- Article date:
- January 17, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK--(BUSINESS WIRE)--Jan. 17, 1997--
Random House Inc. and Broderbund Software Inc. (NASDAQ:BROD) announced today that they have reached preliminary agreement on the basis for selling back to Broderbund, for an undisclosed amount, Random House's 50 percent stake in Living Books, a partnership established in 1994.
Random House would continue to work with Broderbund and Living Books on the development of future products, and would continue to distribute Living Books into the US bookstore channel.
Alberto Vitale, Chairman and Chief Executive Officer of Random House Inc., said: "Our relationship with Broderbund has been an extremely ...