Does Disney Own Zondervan?
One of the most frequently asked questions in the publishing industry is whether Disney owns Zondervan, a prominent Christian book publisher. In this article, we will delve into the history of Zondervan, its current ownership, and explore the relationship with Disney.
Brief History of Zondervan
Zondervan was founded in 1931 by Peter M. Zondervan and his wife, Leona, in Grand Rapids, Michigan. Initially, the company focused on publishing Bibles and Bible study materials. Over the years, it expanded its product line to include Christian fiction, non-fiction, and devotionals.
Disney’s Acquisitions and Holdings
In 1988, Harper & Row, a major publishing house, acquired Zondervan. Harper & Row was later merged with William Collins Publishers in 1990 to form HarperCollins Publishers. HarperCollins, the current parent company of Zondervan, is not owned by Disney.
From 1996 to 1998, News Corporation, the media conglomerate founded by Rupert Murdoch, held a 13% stake in HarperCollins. News Corporation’s stake in HarperCollins was later reduced to 10%, and in 2008, News Corporation sold its remaining shares in the company.
Current Ownership Structure of Zondervan
As of 2022, Happugh Enterprises, Inc., a private investment firm, owns 86.7% of HarperCollins Publishers, which, in turn, owns Zondervan. 21.3% of the company is owned by Discovery, Inc., a media and entertainment conglomerate known for its TV channels and streaming services, including the Discovery Channel and HBO.
Disney’s Connection to Zondervan
In 2020, The Walt Disney Company acquired 20% of Discovery, Inc. as part of a larger deal to purchase the 22nd and 29th completions of the European soccer tournament, Euro 2020. This investment did not result in Disney acquiring Zondervan, as it only took part in the stock ownership of Discovery, the parent company of HarperCollins.
Comparison of Partnership Structures
| Company | Ownership Structure |
|---|---|
| Zondervan (HarperCollins) | 86.7% Happugh Enterprises, 21.3% Discovery, Inc. |
| Disney’s Interest in Zondervan through Discovery | 4.25% (20% of 21.3%) |
Conclusion
To summarize, Disney does not own Zondervan. While Disney has a relationship with Zondervan through its 20% stake in Discovery, Inc., it does not have direct ownership or control over the Christian publishing house. Zondervan, now a subsidiary of HarperCollins Publishers, is owned primarily by Happugh Enterprises, with a minority stake held by Discovery, Inc.