Chinese Phoenix Publishing & Media and American Publishing International held an assets delivery ceremony in Chicago on July 16, 2014. In total, Phoenix Media spent $80 million to make an acquisition of the company’s book business, along with the entire equity and assets of overseas subsidiaries in Germany, France, Britain, Australia and Mexico.
Deputy General Manager of Phoenix Media Sun Zhenfu suggested that “going international” is one of the most important strategies for his company. Through this acquisition, Phoenix Media will also acquire resources for electronic audio children’s books publishing from American Publishing International and have access to the licensing for brand imaging and the global sales network of Disney and other world-class brands.
It is reported that Phoenix Media will establish a strategic development platform in North America so that it can draw more international resources and attract more international publishing talents. American Publishing International, headquartered in Chicago, is mainly engaged in the publishing and marketing of electronic audio children’s books, cooking books and popular books. With subsidiaries in the UK, Australia, Germany, France and Mexico, it is one of the world’s largest publishers of children’s books which operates in more than 20 countries and regions with an annual sales of about 23 million children’s books sold.