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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The biggest airport in Canada is eliminating 500 jobs because of the dramatic reduction in demand for air travel due to COVID-19. Continue reading at CBC
[ CBC | 2020-07-14 14:02:27 UTC ]
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This week, we highlight new books from Mary Robinette Kowal, Momus, and Ellison Cooper. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-07-10 04:00:00 UTC ]
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Conservative Leader Andrew Scheer was seen at a departure gate at Toronto’s Pearson Airport today without a mask on — an apparent contravention of the rules that apply to travellers passing through the terminal. Continue reading at CBC
[ CBC | 2020-07-07 20:47:39 UTC ]
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Penguin Business has pre-empted Permission to Speak by Samara Bay, a dialect and speech coach in Hollywood. Continue reading at The Bookseller
[ The Bookseller | 2020-07-02 08:04:22 UTC ]
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The Booksellers Association has announced The Rain Heron by Robbie Arnott (Atlantic) as its Fiction Book of the Month for July. Continue reading at The Bookseller
[ The Bookseller | 2020-07-02 04:12:42 UTC ]
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AAP chief Bruce Davidson said in an all-staff email on Monday night that the ‘new’ newswire will retain 85 editorial staff and relaunch on 1 August Newswire Australian Associated Press (AAP) has been sold in an 11th-hour bid by a philanthropic investment consortium helmed by former News Corp... Continue reading at The Guardian
[ The Guardian | 2020-06-29 11:53:06 UTC ]
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This week, we highlight new books from Riley Sager, Christina Britton, and Paul Doiron. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-06-26 04:00:00 UTC ]
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https://www.thebookseller.com/news/hq-reveals-details-definitive-meghan-and-harry-biography-1201904HarperNonFiction has picked up a “pioneering” book on Meghan Markle by celebrity biographer Sean Smith. Continue reading at The Bookseller
[ The Bookseller | 2020-06-22 10:02:40 UTC ]
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Two Roads has acquired three "glamorous social histories": Maiden Voyages by Siân Evans, The Barbizon by Paulina Bren and Kiki Man Ray by Mark Braude. Continue reading at The Bookseller
[ The Bookseller | 2020-06-18 18:44:38 UTC ]
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Publishing staffers have spoken out on low pay and poor transparency on salaries in the industry. Continue reading at The Bookseller
[ The Bookseller | 2020-06-17 02:56:57 UTC ]
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Oprah Winfrey announced today that her next book club selection would be Deacon King Kong by James McBride, a novel that she says resonates at a time when America is facing a reckoning over race and violence against black people. “In a moment when our country roils with righteous anger and grief... Continue reading at Literrary Hub
[ Literrary Hub | 2020-06-16 20:04:23 UTC ]
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This week, we highlight new books from Walter Scott, Paul Preston, and Sarah Stewart Johnson. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-06-12 04:00:00 UTC ]
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Penguin Business will publish You Coach You, a second book by Sarah Ellis and Helen Tupper, authors of Sunday Times bestseller The Squiggly Career. Continue reading at The Bookseller
[ The Bookseller | 2020-06-11 19:52:38 UTC ]
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This week, we highlight new books from Susan Elizabeth Phillips, William Barber, and Allison Montclair. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-06-01 04:00:00 UTC ]
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Penguin Press is to publish Matthew Goodwin's latest book This England: Nation, Identity and Belonging. Continue reading at The Bookseller
[ The Bookseller | 2020-05-28 18:27:54 UTC ]
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Penguin Classics is to launch a new series of world science fiction "to challenge stereotypes about the genre". Continue reading at The Bookseller
[ The Bookseller | 2020-05-28 09:00:55 UTC ]
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This week, we highlight new books from Masha Gessen, Wayétu Moore, and Lauren K. Denton. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-05-25 04:00:00 UTC ]
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This week, we highlight new books from James Lee Burke, Meryl Wilsner, and Loren D. Estleman. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-05-18 04:00:00 UTC ]
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This week, we highlight new books from Porochista Khakpour, Zephyr Teachout, and Nathacha Appanah. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-05-11 04:00:00 UTC ]
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Huge losses driven partly by fall in valuation of Australian pay TV service Foxtel and decline in news advertising revenue Rupert Murdoch’s global media empire, News Corp, lost US$1bn in the three months to the end of March and is expecting more financial pain as the economic fallout from the... Continue reading at The Guardian
[ The Guardian | 2020-05-08 01:49:41 UTC ]
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