Houghton Mifflin Harcourt Acquires Channel One News to Expand Digital Content Offering, Production Capabilities
May 13 2014 - 10:02AM
Business Wire
Acquisition of award-winning producer of daily
news program and digital content for K-12 students represents
continued investment in high-quality content and new modes of
delivery
Global education leader Houghton Mifflin Harcourt (HMH) today
announced the acquisition of Channel One News, a digital content
provider dedicated to encouraging kids to be informed,
digitally-savvy global citizens. The acquisition represents HMH’s
strategic investment in the continued development of high-quality
digital content for students, teachers and parents across multiple
modalities, and will bring significant video and cross-media
production capabilities in-house.
Established in 1989, Channel One News produces Peabody and Telly
award-winning daily news programs that are broadcast to nearly five
million upper elementary, middle and high school students across
the U.S. via satellite and online at ChannelOne.com.
“Channel One News is a long-time K-12 industry player that
shares our commitment to high quality digital content and the
importance of curiosity in learning,” said Linda Zecher, President
and CEO of Houghton Mifflin Harcourt. “By coming together, we
continue to innovate around modes of content delivery that educate
and engage today’s students in new and meaningful ways.”
Aligned to Common Core State Standards, Channel One and its
supplementary educational resources are designed to spark
conversations on current events and foster critical thinking
skills. The acquisition will enable HMH to further integrate
informative, engaging and standards-aligned nonfiction video
content into its core product offerings and beyond.
“We are thrilled to join the HMH family – a global,
educational powerhouse that combines world class content,
cutting edge technology and digital multimedia tools to
engage students and support teachers," added C.J. Kettler, CEO
of Channel One. “By joining forces, Channel One News can
leverage HMH's leading K-12 market position and its deep
relationships with school districts across the U.S. to offer
innovative digital content and resources on an even
broader scale."
Channel One News and its employees will continue to be based in
New York City.
About Houghton Mifflin HarcourtHoughton Mifflin Harcourt
(NASDAQ:HMHC) is a global learning company with the mission of
changing people’s lives by fostering passionate, curious learners.
Among the world’s largest providers of pre-K–12 education solutions
and one of its longest-established publishing houses, HMH combines
cutting-edge research, editorial excellence and technological
innovation to improve teaching and learning environments and solve
complex literacy and education challenges. HMH’s interactive,
results-driven education solutions are utilized by more than 50
million students in over 150 countries, and its renowned and
awarded novels, non-fiction, children's books and reference works
are enjoyed by readers throughout the world. For more information,
visit www.hmhco.com.
About Channel One, LLCChannel One, LLC is a digital
content provider focused on encouraging young people to be
informed, digital-savvy global citizens. The Company’s primary
offering, Channel One News, is a daily nonfiction
video program with supplementary educational resources,
aligned to Common Core State Standards, to help students,
teachers and parents interpret the news of the day and
spark important conversations. The award-winning Channel One
News program is broadcast to approximately five million young
people in upper elementary schools, middle schools and high schools
across the country.
Forward Looking StatementsThis news release may contain
certain statements that are not historical facts, including
information regarding our intentions, beliefs or current
expectations concerning, among other things, our results of
operations, financial condition, liquidity, prospects, growth,
strategies, the industry in which we operate and potential business
decisions. Those statements constitute “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements involve known and unknown
risks, uncertainties and other factors that could cause our actual
results to differ materially from the results express in or implied
by our forward-looking statements, including, but not limited to,
changes in state and local education funding and/or related
programs, legislation and procurement processes; adverse or
worsening economic trends or the continuation of current economic
conditions; changes in consumer demand for, and acceptance of, our
products; industry cycles and trends; conditions and/or changes in
the publishing industry; and other factors discussed in our news
releases, public statements and/or filings with the U.S. Securities
and Exchange Commission, including our most recent Annual and
Quarterly Reports on Form 10-K and Form 10-Q. We undertake no
obligation, and do not expect, to publicly update or publicly
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
Media ContactHoughton Mifflin HarcourtEmma Doherty,
617-351-5473Director, Corporate
Communicationsemma.doherty@hmhco.com
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