The making of Harcourt General

by Bettye Hobbs Pruitt

The Making of Harcourt General describes the transformation of a small movie-theater proprietorship, formed in the early days of the industry, into a major diversified firm with businesses in publishing (Harcourt Brace), retailing (Neiman Marcus), and insurance as well as theaters (General Cinema). As Mid-West Drive-In Theatres, Inc., the company was a pioneer in its industry, first with family-oriented drive-ins and later with shopping-center theaters. From early on, however, driven by the cash-generating power of the theater business, it pursued a strategy of diversification, navigating the conglomerate era, the junk-bond-fueled "merger mania" of the 1980s, and the more painful period of restructuring in the early 1990s. This book offers a unique inside view of the evolution of Harcourt General, but also places that evolution in a broader context, illuminating the dramatic changes that have occurred in the business environment in those years. . Harcourt General's diversification stra