Numerous studies indicate that listening to music and reading are processes that interact in multiple ways. However, these interactions have rarely been explored with regard to the role of emotional mood. In this study, we first conducted two pilot experiments to assess the conveyed emotional mood of four classical music pieces and that of four narrative text excerpts. In the main experiment, participants were asked to read the texts while listening to the music and to rate their emotional state in terms of valence, arousal, and dominance. Subsequently, they rated text and music of the multisensory event in terms of the perceived mood, liking, immersion, and music-text fit. We found a mutual carry-over effect of happy and sad moods from music to text and vice versa. Against our expectations, this effect was not mediated by the valence, arousal, or dominance experienced by the subject. Moreover, we revealed a significant interaction between music mood and text mood. Texts were liked better, they were classified as of better quality, and participants felt more immersed in the text if text mood and music mood corresponded. The role of mood congruence when listening to music while reading should not be ignored and deserves further exploration.