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Les Echos: Vivendi Universal lands major publishing contract inUS
Jan 14, 2002, (Les Echos /FT Information via COMTEX) -- The Franco-American media and communication group Vivendi Universal SA confirmed on Friday that its Boston-based educational publishing house Houghton Mifflin Co has been given permission to market its primary- and secondary-school readers in the US state of California. As such, it will compete with Open Court, a subsidiary of the US publisher McGraw-Hill, while the Reed Elsevier-owned company Hartcourt has been dropped from the race.
California's educational materials market, which has an estimated value of $316m, is the second-biggest in the US - after that of Texas - to launch a call for tenders. Analysts believe that Houghton Mifflin is well-placed to gain over half of this market, which should make a significant contribution to its earnings over the next three to four years. In 2001, these amounted to $1bn. Vivendi Universal acquired Houghton Mifflin last June.
Abstracted from Les Echos
Copyright 2002: Financial Times Information. All rights reserved
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KEYWORD: United States of America
France
Americas
North America
Pacific Rim
Europe
European Union
Mediterranean
Western Europe
INDUSTRY KEYWORD: Elementary & Secondary Schools
Publishing Industries
SUBJECT CODE: Company News
Contracts & New Orleans
M&M Man
