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Perseus Book Group to Acquire Running Press Book Publishers in Philadelphia.
Knight Ridder/Tribune Business News, March, 2002
By Benjamin Y. Lowe, The Philadelphia Inquirer Knight Ridder/Tribune Business News
Mar. 15--Running Press Book Publishers, whose authors include Pat Croce, said yesterday it would be acquired by a New York independent book company.
The Center City publishing house said it would become part of the Perseus Book Group, which specializes in fiction and serious non-fiction. Financial details of the deal were not disclosed, though the acquisition will likely double Perseus' annual revenue to about $125 million.
The deal gives Perseus access to the specialty book market and a beachhead in developing children's titles, said John J. McKeown, Perseus' chief executive officer. He said the acquisition will help the company achieve sales growth of 10...
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