Houghton Mifflin Harcourt (/ˈhoʊtən/; HMH) is a publisher of textbooks, instructional technology materials, assessments, reference works, and fiction and non-fiction for both young readers and adults.
|Houghton Mifflin Harcourt Company|
|Traded as||NASDAQ: HMHC|
Russell 2000 Component
|Founder||Houghton Mifflin Harcourt, George Mifflin|
|Country of origin||United States|
|Headquarters location||Boston, Massachusetts|
Raincoast Books (Canada trade)
Nelson (Canada textbooks)
Melia Publishing Services (UK)
Hachette Client Services (Latin America, South America, Asia and Europe)
|Key people||Jack Lynch, President and CEO|
|Publication types||Books, software|
|Imprints||Clarion, Graphia, Mariner, Sandpiper, HMH Books for Young Readers, John Joseph Adams Books, Mariner Books|
|Revenue||$1.41 billion (2017)|
|No. of employees||4,000+|
The company was formerly known as Houghton Mifflin Company but changed its name following the 2007 acquisition of Harcourt Publishing. Prior to March 2010, it was a subsidiary of Education Media and Publishing Group Limited, an Irish-owned holding company registered in the Cayman Islands and formerly known as Riverdeep.
In 1832, William Ticknor and John Allen purchased a bookselling business in Boston and began to involve themselves in publishing. James Thomas Fields joined as a partner in 1843 and with Tickner gradually gathered an impressive list of writers, including Ralph Waldo Emerson, Nathaniel Hawthorne, and Henry David Thoreau. The duo formed a close relationship with Riverside Press, a Boston printing company owned by Henry Oscar Houghton. Houghton also founded his own publishing company with partner Melancthon Hurd in 1864, with George Mifflin joining the partnership in 1872.
In 1878, Ticknor and Fields, now under the leadership of James R. Osgood, found itself in financial difficulties and merged its operations with Hurd and Houghton. The new partnership, named Houghton, Osgood and Company, held the rights to the literary works of both publishers. When Osgood left the firm two years later, the business reemerged as Houghton, Mifflin and Company. Despite a lucrative partnership with Lawson Valentine, Houghton, Mifflin and Company still had debt it had inherited from Ticknor and Fields, so it decided to add partners. In 1884 James D. Hurd, the son of Melancthon Hurd, became a partner. In 1888, three others became partners as well: James Murray Kay, Thurlow Weed Barnes, and Henry Oscar Houghton Jr.
Shortly thereafter, the company established an Educational Department, and from 1891 to 1908 sales of educational materials increased by 500 percent. The firm incorporated in 1908, changing its name to Houghton Mifflin Company. Soon after 1916, Houghton Mifflin became involved in publishing standardized tests and testing materials, working closely with such test developers as E. F. Lindquist. By 1921, the company was the fourth-largest educational publisher in the United States.
In 1961, Houghton Mifflin famously passed on Julia Child's Mastering the Art of French Cooking, giving it up to Alfred A. Knopf who published it in 1962. It became an overnight success and is considered by many to be the bible of French cooking. Houghton Mifflin's strategic error was depicted in the 2009 film Julie & Julia.
In 1967, Houghton Mifflin became a publicly traded company on the New York Stock Exchange under the stock symbol HTN.
Under (new from 1991) president Nader F. Darehshori Houghton Mifflin acquired  McDougal Littell in 1994 for $138 million, an educational publisher of secondary school materials, and the following year acquired D.C. Heath and Company, a publisher of supplemental educational resources. In 1996, the company created their Great Source Education Group to combine the supplemental material product lines of their School Division and these two companies.
In 1998, HMH announced a sub-brand called LOGAL Software, which was to release a new line of interactive science software called Science Gateways, to support the United States curriculum. As of 2017, Houghton Mifflin Harcourt is offering the "Logal Science" brand as a licensing opportunity on its website.
Mergers and acquisitions (M&A) activities have had major effects on this company.
In 2001, Houghton Mifflin was acquired by French media giant Vivendi Universal for $2.2 billion including assumed debt. In 2002, facing mounting financial and legal pressures, Vivendi sold Houghton to private equity investors Thomas H. Lee Partners, Bain Capital, and Blackstone Group for $1.66 billion, including assumed debt (approximately 25% less than Vivendi had paid a year earlier).
On December 22, 2006, it was announced that Riverdeep PLC had completed its acquisition of Houghton Mifflin. The new joint enterprise would be called the Houghton Mifflin Riverdeep Group. Riverdeep paid $1.75 billion in cash and assumed $1.61 billion in debt from the private investment firms Thomas H. Lee Partners, Bain Capital and Blackstone Group. Tony Lucki, a former non-executive director of Riverdeep, remained in his position as the company's chief executive officer until April 2009.
Houghton Mifflin sold its professional testing unit, Promissor, to Pearson plc in 2006. The company combined its remaining assessment products within Riverside Publishing, including San Francisco-based Edusoft.
On July 16, 2007, Houghton Mifflin Riverdeep announced that it signed a definitive agreement to acquire the Harcourt Education, Harcourt Trade and Greenwood-Heinemann divisions of Reed Elsevier for $4 billion. The expanded company would become Houghton Mifflin Harcourt. McDougal Littell was merged with Harcourt's Holt, Rinehart & Winston to form Holt McDougal.
On December 3, 2007, Cengage Learning (formerly Thomson Learning) announced that it had agreed to acquire the assets of the Houghton Mifflin College Division for $750 million, pending regulatory approval.
On November 25, 2008, Houghton Mifflin Harcourt announced a temporary freeze on acquisition of new trade division titles, allegedly in response to the economic crisis of 2008. The publisher of the trade division resigned, apparently in protest. Many observers familiar with the publishing industry saw the move as a devastating blunder.
On July 27, 2009, the Irish Independent newspaper reported that Houghton Mifflin Harcourt's controlling shareholder EMPG was in the process of a re-structuring negotiations with its unsecured-debt holders that would lead to the conversion of the debt into equity. The news story reported that the unsecured debt holders would receive a 45% equity stake. As a result, the royal family of Dubai via their Istithmar World Capital investment vehicle became major stakeholders. Estimates were that EMPG would cut its debt from $7.3bn to $6.1bn. On August 15, 2009, the Financial Times newspaper reported in an interview with Houghton Mifflin Harcourt's CEO at the time, Barry O'Callaghan, that the refinancing had received approval of more than 90% of lenders. The terms included the holding company debt converting into 45% of the fully diluted common equity, an effective 25 per cent relaxation of financial covenants, second lien lenders agreeing to convert their holdings into a PIK instrument, reducing annual interest costs by $100m, and a further $50m increase its working capital facility.
A further restructuring of Houghton Mifflin Harcourt's debts was confirmed by the company on January 13, 2010. The proposed restructuring materially impacted the shareholders of EMPG, the former holding company of Houghton Mifflin Harcourt.
On February 22, 2010, Houghton Mifflin Harcourt announced that EMPG and HMH had reached an agreement to restructure the finances of the company and recapitalize its balance sheet with a substantial fresh cash investment by institutional investors.
The agreement, supported by 100% of HMH's creditors, highlighted a reduction in the senior debt to $3 billion from the current $5 billion, with new equity issued to the senior debt holders (including Paulson & Co. and Guggenheim Partners), conversion of the $2 billion mezzanine debt into equity and warrant, receipt of $650m of new cash from the sale of new equity. In addition to the key highlights, HMH announced its new $100m Innovation Fund, to invest in the next generation of technology for the education industry.
The Irish Times reported that the investments by the then equity holders of EMPG, including HMH's CEO at the time, Barry O'Callaghan, private clients of Davy Stockbrokers, Reed Elsevier, and others of over $3.5 billion would be written down to zero. Additionally, the Irish Independent reported that following the restructuring, the investors of EMPG would have a nominal investment in Houghton Mifflin Harcourt via warrants over 5% of the company if it exceeded the $10 billion valuation placed on the company at the time of the merger between Houghton Mifflin Riverdeep and Harcourt. In addition to the warrants in HMH, the EMPG shareholders would continue to own a stake in the international investment vehicle, EMPGI which has stakes in China, the Middle East and elsewhere.
The Financial Times reported that no management changes were expected as part of the deal with both the CEO at the time, Barry O'Callaghan and the CFO, Michael Muldowney expected to remain in their roles. The Times reported that a new nine-member board was to be created with the CEO the only executive representative, one independent, two representative of Paulson & Co, and one director from each of Apollo, BlackRock, Guggenheim Partners, Fidelity and Avenue Capital.
On March 10, 2010, Houghton Mifflin Harcourt announced that it had completed its re-capitalization. In addition to a new investment of $650 million of equity, the debt levels of the company were reduced by approximately 60% and the annual interest payments by over 75%. According to the Irish State Broadcaster, RTÉ, the old equity investors based in Ireland has lost all their investment. The Irish Independent reported that the old shareholders were denied a shareholders meeting to vote or discuss the restructuring. The former shareholders have been left with warrants over 5% of the company, in the case its value recovers to previous levels.
On September 19, 2011, it was announced that Linda K. Zecher would be replacing Barry O'Callahan as chief executive officer and Director of Houghton Mifflin Harcourt after O'Callahan resigned. Zecher went to HMH from Microsoft.
The company went public in November 2013.
On February 15, 2017, John J. ("Jack") Lynch, Jr., the former CEO of Renaissance Learning, was named the new CEO of Houghton Mifflin Harcourt.
On September 22, 2016, Zecher resigned from HMH and was replaced by Interim CEO and Board Member L. Gordon Crovitz. Crovitz is a former publisher of the Wall Street Journal. On February 15, 2017, John J. ("Jack") Lynch, Jr., the former CEO of Renaissance Learning, was named the new CEO of HMH.
Jack brought Jim O’Neill back to the company to lead the core division as GM and EVP.
HMH is also home to popular media brands like Carmen Sandiego and The Oregon Trail; and iconic brands including The Whole30; The Best American series; The American Heritage and Webster's New World dictionaries; Better Homes and Gardens; How to Cook Everything; the Peterson Field Guides; CliffsNotes; and many children's books including Curious George and The Little Prince; as well as Mein Kampf by Adolf Hitler and US publishing of J. R. R. Tolkien.
HMH's authors include eight Nobel Prize winners, 47 Pulitzer Prize winners, 13 National Book Award winners, and more than 100 Caldecott, Newbery, Printz, and Sibert Medal and Honor recipients.
Curious George at the Zoo was rated a Top Ten app under the Education Games category for the iPad, iPhone, and iPod Touch in 2012.
Go George Go!, a mobile app for preschoolers, received the Editor's Choice Award from the Children's Technology Review in 2011.
Go Math!, a K–6 product, was named a Reader's Choice Top 100 product by District Administration in 2010.
In 2015, CTO Brook Colangelo won Boston Business Journal's CIO of the year.
In 2016, the company was named as one of Forbes' Top 100 companies for Remote Jobs.
Broderbund Software, Inc. (stylized as Brøderbund) was an American maker of video games, educational software and productivity tools.
Broderbund is best known for the 8-bit computer game hits Choplifter, Lode Runner, Karateka, and Prince of Persia (all of which originated on the Apple II), as well as The Print Shop—originally for printing signs and banners on dot matrix printers—and the Myst and Carmen Sandiego games. The company was founded in Eugene, Oregon, and moved to San Rafael, California, then later to Novato, California. Broderbund was purchased by The Learning Company in 1998.
Many of Broderbund's software titles, such as The Print Shop, PrintMaster and Mavis Beacon, are still published under the name "Broderbund". Games released by the revived Broderbund are distributed by Encore, Inc. Broderbund is now the brand name for Riverdeep's graphic design, productivity, and edutainment titles such as The Print Shop, Carmen Sandiego, Mavis Beacon Teaches Typing, the Living Books series, and Reader Rabbit titles, in addition to publishing software for other companies, notably Zone Labs' ZoneAlarm.
They would often release school editions of their games, which contained extra features to allow teachers to use the software to facilitate students' learning.Carmen Sandiego Returns
Carmen Sandiego Returns is a 2015 social studies puzzle adventure video game, part of the Carmen Sandiego franchise. It is developed by Houghton Mifflin Harcourt, and uses Intel RealSense Technology in order to enhance the immersive nature of player interaction. The educational game aims to teach players about world geography and culture to its 10–14 year old target market.A different game was released on the iOS platform under the same name. This game marks the franchise's debut onto the smartphone market, and has a target market of people aged 9–11.Channel One News
Channel One News was an American content provider. The daily news program was accompanied by commercial advertising for marketing in schools, with supplementary educational resources. The Peabody and Telly Award-winning Channel One News program was broadcast to millions of young people in upper elementary schools, middle schools, and high schools across the United States. On May 13, 2014, it was sold for an undisclosed price to Houghton Mifflin Harcourt. On June 28, 2018 HMH announced that Channel One's last broadcast occurred in May and that they would be "winding down ongoing operations".CliffsNotes
CliffsNotes (formerly Cliffs Notes, originally Cliff's Notes and often, erroneously, CliffNotes) are a series of student study guides. The guides present and create literary and other works in pamphlet form or online. Detractors of the study guides claim they let students bypass reading the assigned literature. The company claims to promote the reading of the original work and does not view the study guides as a substitute for that reading.Edmark
Edmark Corporation is a publisher of educational print materials and an educational software developer in Redmond, Washington. They developed software for Microsoft Windows and Mac OS in several languages and sold it in over a dozen countries.Heinemann (publisher)
Heinemann is a publisher of professional resources and a provider of educational services established in 1978 in Portsmouth, New Hampshire, as a U.S. subsidiary of Heinemann UK. Heinemann published the first-ever teacher professional book in 1983, and has since expanded to curricular resources, assessment systems, leveled literacy intervention, and Professional Development services. Today, the UK education imprint is owned by Pearson, the UK trade publications are owned by Random House and the US education imprint is owned by Houghton Mifflin Harcourt.Holt McDougal
Holt McDougal is an American publishing company, a division of Houghton Mifflin Harcourt, that specializes in textbooks for use in secondary schools.
The Holt name is derived from that of U.S. publisher Henry Holt (1840–1926) but Holt McDougal is distinct from Henry Holt and Company. The company is publishing different kinds of books.Houghton Mifflin Harcourt Learning Technology
Houghton Mifflin Harcourt Learning Technology, originally started as Riverdeep Interactive Learning, is a publishing house for educational online and CD-ROM products based in San Francisco, United States and Dublin, Ireland. Founded in 1995, Riverdeep was principally the creation of the Irish ex-investment banker Barry O'Callaghan. O'Callaghan was Riverdeep's CEO and controlling shareholder. Riverdeep also acquired the companies Broderbund, The Learning Company and Edmark, and became a distributor for said companies.List of English words of Sanskrit origin
This is a list of English words of Sanskrit origin. Most of these words were not directly borrowed from Sanskrit. The meaning of some words have changed slightly after being borrowed.
Both languages belong to the Indo-European language family and have numerous cognate terms; these words are not of Sanskrit origin and technically should not be included on this list.Living Books
Living Books was a series of interactive storybooks for children, first produced by Brøderbund and then spun off into a jointly owned (with Random House) subsidiary, which were distributed on CD-ROM for Mac OS and Microsoft Windows. The series began in January 1992 with the release of Just Grandma and Me (an adaptation of the book by Mercer Mayer) in 1992 till it ended in 1998; other titles in the series included The Tortoise and the Hare, Arthur's Teacher Trouble (and other adaptations of books by Marc Brown), Dr. Seuss, P. D. Eastman, and Berenstain Bears titles.Atlantan production company Red Rubber Ball (later Little Ark Interactive) created a series of biblical-themes interactive storybooks under contract from Living Books in the late 1990s, and developed under the direction of members of the original Living Books team.
By 2013, Wanderful, Inc. obtained the rights of the series and ported most of them to the iOS platforms and also added additional languages to the products. The Dr. Seuss and Little Critter titles were ported to iOS by Oceanhouse Media.The assets are currently licensed by Houghton Mifflin Harcourt. As of 2017, Houghton Mifflin Harcourt is offering the Living Books brand as a licensing opportunity on its website.Mariner Books
Mariner Books, a division of Houghton Mifflin Harcourt, was established in 1997 as a publisher of fiction, non-fiction, and poetry in paperback. Mariner is also the publisher of the Harvest imprint backlist, formerly published by Harcourt Brace/Harcourt Brace Jovanovich.Maurice Manning (poet)
Maurice Manning (born 1966) is an American poet. His first collection of poems, Lawrence Booth's Book of Visions, was awarded the Yale Younger Poets Award, chosen by W.S. Merwin. Since then he has published four collections of poetry (with Houghton Mifflin Harcourt and Copper Canyon Press). He teaches at Transylvania University in Lexington, Kentucky.Rick Bass
Rick Bass (born March 7, 1958) is an American writer and an environmental activist.Saturday Night Live (season 14)
The fourteenth season of Saturday Night Live, an American sketch comedy series, originally aired in the United States on NBC between October 8, 1988 and May 20, 1989.
This is the final season to show the animated NBC "In Stereo (Where Available)" on-screen announcement during the opening montage.
A new show logo was used starting with this season. It was made up of the words SATURDAY + NIGHT + LIVE styled in a circle. It was used until the end of the show's 20th season in 1995.
This season notably saw the death of a second original cast member, Gilda Radner, who died on the day of the season finale from ovarian cancer. In memory of Radner, Steve Martin showed a clip from the famous "Dancing in the Dark" sketch from the 1978 episode hosted by Martin in lieu of his planned monologue.Saturday Night Live (season 16)
The sixteenth season of Saturday Night Live, an American sketch comedy series, originally aired in the United States on NBC between September 29, 1990, and May 18, 1991.
The 16th season of SNL was a transitional one: Several longtime cast members left, and a large number of additions were made to the roster. To ensure that he was not short on talent (and to avoid repeating Jean Doumanian's mistake—and Lorne Michaels's previous mistake in the case of the 1985-1986 cast—of hiring a cast of new, inexperienced cast members with little to no comedic chemistry), Michaels chose to retain most of the late 1980s cast while in the process of hiring the people that would make up the early 1990s cast. At one point during the season, sixteen people were listed as cast members or featured players.Slavery among the indigenous peoples of the Americas
Slavery among the indigenous peoples of North and South America took many forms. Slavery was not that common among all pre-Columbian indigenous peoples of the Americas. Instead, indigenous peoples took temporary captives among other indigenous peoples they warred with. After the English settlers arrived, five tribes came to own black slaves, imitating the Europeans.European colonies purchased indigenous people as slaves as part of the international indigenous American slave trade, which lasted from the late 15th century into the 19th century. Recently, scholars Andrés Reséndez and Brett Rushforth have estimated that between two and five million indigenous people were enslaved as part of this trade. Although slavery is illegal throughout the Americas, some indigenous peoples are still slaves in everything but name.The Annotated Hobbit
The Annotated Hobbit: The Hobbit, or There and Back Again is an edition of J. R. R. Tolkien's novel The Hobbit with a commentary by Douglas A. Anderson. It was first published in 1988 by Houghton Mifflin Harcourt, Boston, in celebration of the 50th anniversary of the first American publication of The Hobbit, and by Unwin Hyman of London.The Learning Company
The Learning Company (TLC) is an American educational software company, currently owned by Houghton Mifflin Harcourt. It produced a grade-based system of learning software and tools to improve productivity. Products for preschoolers through second graders include Reader Rabbit, and software for more advanced students include The ClueFinders. The company is also known for publishing licensed educational titles featuring characters such as Arthur, Scooby-Doo, Zoboomafoo, and Caillou.Webster's New World Dictionary
Webster's New World Dictionary of the American Language is an American dictionary first published in 1951 and since 2012 published by Houghton Mifflin Harcourt.
Houghton Mifflin Harcourt
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