Lagardere, the parent company of Hachette Livre, unveiled a modest 2.3 percent rise in nine-month revenue from its media division, reflecting consolidation of Time Warner Book Group and growth in the book division. Media revenue for the period rose to 5.93 billion euros (US$7.59 billion) in January-September, from 5.8 billion a year earlier. The purchase of Time Warner added 213 million euros (US$273 million) to revenue. Furthermore, revenue at Hachette Livre, the company’s book division, jumped 18 percent to 1.45 billion euros(US$1.86 billion).
Meanwhile, the news wasn’t as rosy for HarperCollins, reports the Book Standard, as sales dropped 5.8 percent to $368 million for the first quarter of FY 2007, ended Sept. 30, 2006. Operating income for the quarter was $55 million, down from $70 million from the same period last year, one of the best quarters ever for the company. CEO Jane Friedman told Publishers Marketplace that the difference “is all Narnia” and that final results for the quarter “were ahead of our own expectations.”