The education business sold nearly half its stake in the publisher to Bertelsmann, but much of the proceeds will be reinvestedPearson is still going to own a quarter of Penguin Random House, so it’s not too late to hope that it can learn to tell a story like it is. Please, drop this bland corporate talk about “rebasing” the dividend. The cut in the offering is from 52p to 17p a share, or thereabouts, which is too severe to dress in neutral language. Pearson’s status as an investment one might wish to own for income is about to be obliterated.The shame is that Pearson’s sale of a 22% stake in PRH has been secured on terms that look respectable, at least in circumstances where there was only one possible buyer – German media group Bertelsmann, which owns 53% to Pearson’s current 47%. Pearson will collect $1bn (£778m) in cash, via a combination of the sale of the stake and a dividend, in a transaction that values PRH at about seven times its top-line earnings. That valuation feels roughly right, which is why Pearson’s shares initially rose. Related: Pearson sells slice of Penguin for $1bn Continue reading... Continue reading at 'The Guardian'
[ The Guardian | 2017-07-12 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Mon, 28/02/2011 - 09:42 Penguin UK had its best ever year in 2010 as parent company Pearson reported a profits increase of 21% to £857m. For the year ending 31st December, sales at Pearson were £5.66bn, up 10% on 2009. Sales at Penguin were... Continue reading at The Bookseller
[ The Bookseller | 2011-02-28 00:00:00 UTC ]
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Book Culture, based in the same Queens neighborhood where Amazon wanted to set up shop, says it will be forced to close if the city or state doesn’t offer assistance. In New York City’s Long Island City neighborhood, down the road from where Amazon tried (and failed) to build a “second... Continue reading at Fast Company
[ Fast Company | 2019-06-26 15:56:45 UTC ]
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Peel police say a joint task force investigating a multimillion-dollar gold heist at Pearson airport last year has arrested multiple people, laid 19 related charges and interrupted a "large quantity of firearms" intended for import into Canada in connection with the case. Continue reading at CBC
[ CBC | 2024-04-17 11:01:09 UTC ]
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A year ago, police revealed that a massive amount of gold and money had been stolen from a warehouse at Toronto's Pearson airport. Despite intensive investigative efforts, no arrests have been made and the valuable cargo is still unaccounted for. Continue reading at CBC
[ CBC | 2024-04-14 08:00:00 UTC ]
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The gang is getting back together for a fourth Bridget Jones movie, Reese picks a five-year-old book for April, and more news. Continue reading at Book Riot
[ Book Riot | 2024-04-10 14:34:30 UTC ]
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The latest novels by Leif Enger, Abby Jimenez, and Claire Lombardo are among this month's picks by the nation's biggest book clubs. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-04-09 04:00:00 UTC ]
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John Grisham's longtime publisher will return after a buyout to oversee the publishing strategy for the John Grisham brand, "which will now live alongside the sales and corporate marketing teams," PRH CRO Jaci Updike wrote in a memo. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-03-19 04:00:00 UTC ]
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DEI, leadership, literacy, and, of course, defending and the freedom to read are among the themes represented in a strong PLA 2024 professional program. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-03-15 04:00:00 UTC ]
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Barnes & Noble and Jenna Bush Hager pick Kiley Reid's sophomore novel, 'Good Morning America' and 'Nerdette' spotlight Dolly Alderton's latest, and more of this month's selections from the nation's biggest book clubs. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-02-08 05:00:00 UTC ]
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The Canadian aerospace firm Bombardier is in the midst of moving its aircraft assembly plant from Downsview Park to Pearson Airport, and CBC Toronto got a sneak peak of the new facility. Continue reading at CBC
[ CBC | 2024-01-23 10:00:49 UTC ]
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PRH's publisher services division has signed a multi-year sales and distribution agreement with Wattpad Webtoon Book Group as its presence in the world of comics and graphic novel distribution continues to grow. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-23 05:00:00 UTC ]
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Tackle your reading goals with the best books on Kindle Unlimited 2024 has to offer! Find your next read here. Continue reading at Book Riot
[ Book Riot | 2024-01-16 11:30:00 UTC ]
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Here are the books that all the book clubs are reading for January 2024, plus how to join in the discussion. Continue reading at Book Riot
[ Book Riot | 2024-01-12 11:34:00 UTC ]
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'Good Morning America' spotlights Vanessa Chan's debut novel, Jenna Hager Bush selects Bonnie Jo Campbell's latest, and more of this month's picks by the nation's biggest book clubs. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-10 05:00:00 UTC ]
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The 2024 Golden Globes represented a return to normalcy after a year dominated by strikes in the entertainment industry. Streamers continued to get recognition for their shows, with Netflix, Hulu and Max picking up a combined 12 television awards. Max (formerly HBO Max) won the most awards,... Continue reading at Engadget
[ Engadget | 2024-01-08 10:25:14 UTC ]
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Cevian Capital founder argues most of education publisher’s business is there and move would raise its valueBusiness live – latest updatesPearson’s biggest shareholder has said it should be relisted in the US, arguing that leaving London would be better for shareholders as most of the education... Continue reading at The Guardian
[ The Guardian | 2023-12-15 12:22:42 UTC ]
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Hay House, founded by the late Louise Hay and acquired by Penguin Random House, has offices in Australia, India, the States, and UK. The post Penguin Random House Acquires Self-Help Publisher Hay House appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-12-13 03:58:01 UTC ]
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Penguin Random House has acquired the self-help and health and wellness publisher, which puts out roughly 100 books a year and boasts a 1,500-title backlist. CEO Reid Tracy will continue to lead the house. Terms of the transaction were not disclosed. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-12 05:00:00 UTC ]
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Jenna Bush Hager selects Lauren Grodstein's 'We Must Not Think of Ourselves,' Reese Witherspoon spotlights Ella Berman's 'Before We Were Innocent,' and more of this month's picks by the nation's biggest book clubs. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-11 05:00:00 UTC ]
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