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Hachette Book Group USA (HBG) was created when Hachette Livre, a French publishing company, acquired Time Warner Book Group from Time Warner in 2006 (see the Brief History sidebar below for more details). Hachette Livre is a wholly-owned subsidiary of Lagard,re, a company that is active on a worldwide basis in the areas of communications and media (books, press, audiovisual and distribution/retailing of cultural products). HBG is comprised of the following publishing divisions: