Amazon purchases 26% stake in leading publishing house from TATA company Trent
Q. Amazon has acquired 26% stake in which TATA owned publishing house?- Published on 12 Feb 16a. Westland
b. TataMcGraw Hill
c. Palgrave Macmillan
d. Tata Infomedia
ANSWER: Westland
American e-commerce player Amazon has acquired a 26% stake in Westland publishing house owned by TATA company Trend for INR 9.5 crore. This has upped its presence in the third largest economy of Asia, India, and the deal also allows the Jeff Bezos company to purchase the remaining 74% stake in future. Trent acquired Landmark Book Stores in 2005 thereby inheriting Westland. Prior to this, two other publishing businesses have seen the TATA Group divest in them. TATA Infomedia was exited in the past and is known as the publisher of the TATA Yellow pages directory. TATA McGraw Hill Publishing is a promoter of professional as well as educational books. Westland is a culmination of EastWest Books and Westland Books which focuses on Indian authors and is one of the top 5 publishing houses in India. India us currently 7th in overall publishing after US and UK publishing industry. A FICCI report has stated that book publishing in India will be worth INR 10,000 crore growing at the rate of 30% on an average.
