Harcourt Mulls Selling Some Assets

Harcourt Brace Jovanovich Inc., which has vowed for months that none of its assets were for sale, said Wednesday it is discussing the possible sale of a portion of its publishing business.

Peter Jovanovich, president and chief executive officer, said the Orlando-based corporation has begun preliminary discussions involving the sale of some or all of its existing debt at a discount, or the purchase of “certain assets of the company by a third party.”

The statement followed a report earlier Wednesday that former U.S. Sen. Eugene McCarthy, who has served for a decade on HBJ’s board, said discussions had been under way with Thomson Corp. of Canada for a month.

The report by Dow Jones News Service said McCarthy did not know whether HBJ or Thomson made the initial overture.