Disney Publishing Worldwide and Random House Inc., Set Licensing Agreement for Random House Children's Publishing Program

Business Wire, May 8, 2000

Business Editors & Publishing Writers

NEW YORK--(BUSINESS WIRE)--May 8, 2000

Disney Publishing Worldwide and Random House Inc. today announced that they have entered into a major multi-year licensing agreement.

The agreement, which begins on Jan. 1, 2001, grants Random House Children's Books, an imprint of Random House, the rights to publish books in North America based on Disney properties and featuring Disney characters. Under the agreement, Random House will publish hundreds of titles across a wide array of formats for young readers, including coloring and activity books, storybooks, novelty books and early readers.

The agreement was announced by Deborah Dugan, senior vice president, managing director, Disney Publishing Worldwide, the world's largest publisher of children's books and magazines; and Erik Engstrom, president and chief operating officer, Random House Inc., the world's largest English-language trade book publisher. It marks the first time the two companies have formed a significant publishing relationship.

"We are very excited about our new licensing agreement with Random House," said Dugan. "The Disney Publishing-Random House relationship will bring together some of the most-beloved children's characters of all time with one of America's foremost publishers of literature for young people. This agreement is about innovation. In Random House we have found a publisher who can bring a fresh editorial and marketing approach to the treasures of the Disney portfolio."

Kristina Peterson, president, Random House Children's Media Group, and Craig Virden, president and publisher, Random house Children's Books, will oversee the development and implementation of the Random House-Disney publishing program.

The books in the program will draw upon such classic Disney live-action and animated feature films as "Toy Story 2," "The Little Mermaid," "The Lion King" and future Disney animated films. There will also be books inspired by such classic characters as Mickey Mouse, Winnie the Pooh and Cinderella.

Engstrom said, "Our commitment to Disney reflects Random House's desire to significantly grow its children's publishing business, and Disney is the ideal ally with whom we can achieve this goal as we do some terrific publishing together."

Noting that Disney books consistently top the annual rankings of the best-selling children's books published each year, Peterson observed: "The appeal of the Disney family of stories and characters, both from the beloved classics and popular new productions, continues to amaze. As popular as the Disney books have long been, we believe that there is still a huge, untapped readership waiting to discover them."

Disney Publishing Worldwide is the publishing subsidiary of The Walt Disney Company, and brings informative and entertaining publications to readers of all ages around the world. Each year, more than 120 million Disney children's books are sold, and the division's 320 different children's magazines sell approximately 225 million copies annually worldwide.

The group's U.S. businesses include Disney Children's Book Group (www.disneybooks.com) with the imprints Disney Press, Disney Editions, Hyperion Books for Children, and Jump at the Sun; Disney Licensed Publishing; and the magazines Discover, Disney Adventures, Disney Magazine and Family Fun.

The publishing divisions and imprints of Random House Inc., the world's largest English-language trade book publisher, publish more than 3,500 new adult and children's titles annually in hardcover, trade paperback, mass market paperback, audio, and electronic formats in the United States.

Its Random House Children's Media Group division (www.randomhouse.com/kids) is one of America's foremost publishers of literature for pre-school children through young adult readers in all formats, from board books to picture books to novels and narrative nonfiction.

The imprints of Random House Children's Books, the Media Group's book publishing arm, offer publishing programs that bring together world-famous franchise characters, multi-million copy series, and top-flight, award-winning authors and illustrators.

Random House Inc. is a unit of the Book Division of Bertelsmann AG, a leading international media company.