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W.H. Smith selling Hodder Headline

LONDON, Aug. 2 (UPI) -- Britain's W.H. Smith is selling its Hodder Headline publishing business for $405.5 million, the Financial Times reported Monday.

A Smith spokesman said the sale to Hachette Livre is part of a plan to return to health by simplifying the company structure and concentrating on core retail and news distribution businesses.

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Kate Swann, chief executive of W.H. Smith, said she plans to improve how W.H. Smith sells its bread-and-butter lines of cards and books, along with stationery, newspapers and magazines.

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