Hachette Livre, the largest publishing company in France, and the third largest trade and educational publisher in the world. Hachette Livre is a wholly owned subsidiary of Lagardere Group. HBG was formed when Hachette Livre purchased the Time Warner Book Group from Time Warner on March 31, 2006. Its headquarters are located at 1290 Avenue of the Americas, Midtown Manhattan. Hachette is considered one of the big-five publishing companies, along with Holtzbrinck/Macmillan, Penguin Random House, and Simon & Schuster. Each year HBG publishes around 800 adult books, 200 young adult and children's books and 300 audio books.