The noted publisher of Christian, inspirational and family values-based books has decided -- in a bit of a twist -- to take their company off the public market, entering into a definitive agreement to go private in a transaction led by InterMedia Partners VII, LP on behalf of itself and its managed funds and together with certain co-investors.

A news release issued by the company states that under terms of the agreement, Thomas Nelson stockholders and option holders will be paid a total of approximately $473 million. More details will be made available at a public conference call slated for 10 AM Eastern Time (9 AM Central.)

Michael S. Hyatt, President and CEO of Thomas Nelson, said, "This transaction provides Thomas Nelson's shareholders with outstanding value for their shares and a significant premium over recent trading prices. Going private at this time is also in the best interests of the Company's employees, customers and authors, who are also key constituencies of the company."