In the latest news of consolidation in the literary world, Rupert Murdoch's News Corp. announced Monday it's buying Houghton Mifflin Harcourt's book-publishing division, which includes such blockbuster releases as J.R.R. Tolkien's “The Lord of the Rings” trilogy and George Orwell's “1984.'' News Corp. owns HarperCollins, one of the industry's largest book publishers, which will operate the division, called HMH Books & Media, the company said Monday. The announced purchase price was USD349 million. ''Timeless writing is a timely source of revenue and the potential to create highly profitable audio and video works flourishes with each passing digital day,” News Corp. CEO Robert Thomson said in
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