On July 15, 2014, when Phoenix Publishing and Media, headquartered in Nanjing, in East China’s Jiangsu Province, completed a business transaction with the American publisher Publications International in Chicago, it acquired the latter’s children’s book business, and made the announcement at a ceremony in Chicago the following day.

At the same time,they announced the founding of the Phoenix International Publishing Ltd in Chicago, and Phoenix Creative Arts International Trade Ltd (Hong Kong) as wholly owned subsidiaries of Phoenix Education Publishing.

This $85-million acquisition includes all the children’s books business, assets, and overseas subsidiaries. Thus, Phoenix Publishing now has children’s book business in seven countries, and distributes its products in the Americas, Europe, Asia, and Australia.

Phoenix has also assumed the rights to the world’s top children book brands like Disney, Sesame Street, DreamWorks, and Hasbro; which will effortlessly enter world-wide markets through outlets like Wal-Mart and Toys’R’Us. This is the largest merger ever by a Chinese publisher.