Phoenix Publishing & Media Inc confirmed an 80-million-dollar acquisition of the US children's books giant Publications International, Ltd. (PIL) in July 2014. The sale included all of the children's book business assets owned by Illinois-based PIL, including its overseas subsidiaries in the UK, France, Germany, Australia and Mexico, leading to the creation of the brand new Phoenix International Publications Inc (PIP). It was the largest transnational merger ever by a Chinese publishing house. 

PIP is headquartered in Chicago and has offices in New York City, London, Paris, Hamburg, Mexico City and Sydney. Being the fifth largest children's book publisher in North America, PIP yields average sales of 18 million books per year, a yearly sales revenue of over 600 million yuan ($87 million), and has generated an accumulated profit of 45 million yuan, hence realizing the increase of national assets.