Hachette Book Group (HBG) is the third largest trade and educational publishing company in the world. Hachette Livre owns the Hachette Book Group. Lagardère Group owns Hachette Livre. HBG started when Hachette Livre bought the Time Warner Book Group from Time Warner on March 31, 2006. Its headquarters are at 1290 Avenue of the Americas, Midtown Manhattan, New York City. Hachette is one of the big-five publishing companies, along with Holtzbrinck/Macmillan, Penguin Random House, HarperCollins, and Simon & Schuster. In one year, HBG publishes about 1400+ books for adults (including 50-100 digital-only titles), 300 books for young readers, and 450 audio books. In 2016, the company had 214 books on the "New York Times" bestseller list, 44 of which reached #1.