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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Penguin Random House, announces its withdrawal from New York City’s 2020 BookExpo and ReedPop’s associated public weekend, BookCon. The post Penguin Random House Withdraws From BookExpo and BookCon 2020: Coronavirus Update appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-03-18 19:57:06 UTC ]
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Penguin Life will publish a "timely and important" book about mental health in sport by Gary Bloom titled Head in the Game. Continue reading at The Bookseller
[ The Bookseller | 2020-03-17 22:31:22 UTC ]
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This week, we highlight new books from Jane Hirshfield, TJ Klune, S.A. Jones and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-03-10 04:00:00 UTC ]
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Today feels like one of the bad days. But as your mother always told you, silver linings hang out in the strangest of places. The brilliant Tressie McMillan Cottom, Associate Professor of Sociology at Virginia Commonwealth University, whose most recent book Thick was shortlisted for the National... Continue reading at Literrary Hub
[ Literrary Hub | 2020-03-05 18:42:14 UTC ]
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Penguin Life has triumphed in a five-way auction to publish The Modern House by design writers and entrepreneurs Matt Gibberd and Albert Hill. Continue reading at The Bookseller
[ The Bookseller | 2020-03-05 17:45:16 UTC ]
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After the massive blowback from its selection of American Dirt—a book about the migrant experience widely denounced for having very little connection to the migrant experience (or to Mexico, where the book is set)—it makes sense that Oprah’s Book Club would make future selections more... Continue reading at Literrary Hub
[ Literrary Hub | 2020-03-05 17:20:51 UTC ]
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This week, we highlight new books from David Sheff, Kathy Reichs, Max Allan Collins and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-03-05 05:00:00 UTC ]
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The worldwide system of Penguin Random House, world's largest book publisher, has pulled out of London Book Fair amid the mounting COVID-19 outbreak. The post Coronavirus: Penguin Random House Pulls out of London Book Fair appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-03-03 16:18:52 UTC ]
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Headline has picked up The Yorkshire Forager, a “wonderfully wild” memoir and field guide by forager Alysia Vasey. Continue reading at The Bookseller
[ The Bookseller | 2020-02-27 10:30:25 UTC ]
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Every week, the TBR pile grows a little bit more. It’s getting precarious. It’s taking up your whole nightstand. It’s threatening to crush you in your sleep. Well, what are you waiting for? Get cracking. What are you reading this week? Colum McCann, Apeirogon (Random House) The latest novel... Continue reading at Literrary Hub
[ Literrary Hub | 2020-02-25 14:57:43 UTC ]
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EBay Inc. is making plans to sell its international classifieds arm, eBay Classifieds Group, the Wall Street Journal reported Friday, citing unnamed sources. According to the Journal, Classifieds could be worth around $10 billion. The private equity firms TPG and Blackstone Group Inc., as well... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2020-02-21 21:52:59 UTC ]
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Pearson’s 25% stake in Penguin Random House earned the company £65 million in operating profit in 2019. Pearson has sold its 25% share of PRH to Bertelsmann in a deal expected to generated net proceeds of $675 million when the transaction closes. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-02-21 05:00:00 UTC ]
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Pearson has has said it expects profit to fall in 2020, in its latest annual report. Continue reading at The Bookseller
[ The Bookseller | 2020-02-20 19:43:44 UTC ]
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Penguin Random House anticipates a full transition to green energy by 2022, writes Markus Dohle, well ahead of some of the new Bertelsmann guidelines. The post Bertelsmann and Penguin Random House: Climate Neutrality by 2030 appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-02-18 18:34:48 UTC ]
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Penguin Press publicity director Rosie Glaisher is retiring next week after 32 years at the company. Continue reading at The Bookseller
[ The Bookseller | 2020-02-17 01:56:32 UTC ]
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Penguin Life will publish Good Hair: The Essential Guide to Afro, Textured and Curly Hair by British-Ghanaian hairstylist Charlotte Mensah. Continue reading at The Bookseller
[ The Bookseller | 2020-02-14 10:22:36 UTC ]
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The novel, which enters the public domain this year, is one of the pioneering works of paranormal or “time-slip” romance. Continue reading at The Washington Post
[ The Washington Post | 2020-02-12 19:00:00 UTC ]
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The novel, which enters the public domain this year, is one of the pioneering works of paranormal or “time-slip” romance. Continue reading at The Washington Post
[ The Washington Post | 2020-02-12 07:00:00 UTC ]
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Jeanine Cummins' book has been lauded by Stephen King and Lauren Groff, but also lambasted as "problematic," "harmful" and "brownfacing." Continue reading at HuffPost
[ HuffPost | 2020-01-21 23:31:13 UTC ]
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Oprah Winfrey chose "American Dirt" as her latest book club selection. Author Jeanine Cummins' novel has sparked a backlash for its portrayal of immigrants. Continue reading at Los Angeles Times
[ Los Angeles Times | 2020-01-21 20:14:23 UTC ]
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