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 Ireland will publish New Zealand rugby union coach Joe Schmidt’s memoir later this month. Continue reading at The Bookseller
[ The Bookseller | 2019-11-06 02:38:57 UTC ]
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Penguin UK has snapped up the first book by Instagram star Daisy Upton, also known as "Five Minute Mum". Continue reading at The Bookseller
[ The Bookseller | 2019-11-06 02:11:35 UTC ]
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This week: the latest from Martin Cruz Smith, Erin Morgenstern, Carmen Maria Machado, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-11-01 04:00:00 UTC ]
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Indie Papillote Press has picked up a “radical and moving” new historical novel from Caribbean writer Lawrence Scott. Continue reading at The Bookseller
[ The Bookseller | 2019-10-31 19:00:26 UTC ]
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Mere weeks after activist investor Elliott Management publicly pressed AT&T to slash costs and dial down its acquisitions strategy, it appears as if Chairman-CEO Randall Stephenson has knuckled under to those demands. Speaking today on AT&T’s third-quarter earnings call, Stephenson laid... Continue reading at Advertising Age
[ Advertising Age | 2019-10-28 20:32:03 UTC ]
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AT&T will review its portfolio for assets it can sell off, pay down debt related to its Time Warner acquisition and add 2 board members as part of a plan to boost results Continue reading at ABC News
[ ABC News | 2019-10-28 15:17:23 UTC ]
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This week: the latest from Lee Child, plus a hilarious novel about twins with a very special power. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-10-25 04:00:00 UTC ]
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President and publisher of Penguin Books US Kathryn Court will retire later this year, PRH US has announced, with Brian Tart set to step up to the role in a series of staff changes. Continue reading at The Bookseller
[ The Bookseller | 2019-10-24 16:39:42 UTC ]
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Kathryn Court, president and publisher of Penguin Books, will retire at the end of the year after 42 years at the publishing house. She will be succeeded in January 2020 by Viking Books president Brian Tart, who will take on additional and concurrent responsibilities as president and publisher... Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-10-24 04:00:00 UTC ]
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Head of Zeus has picked up a memoir of Belfast by poet and writer Ciaran Carson, who passed away earlier this month. Continue reading at The Bookseller
[ The Bookseller | 2019-10-22 01:49:57 UTC ]
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Tom Penn, publishing director at Penguin Press, has acquired Rebel Citizen: A History of Black Women Living, Loving and Resisting by feminist historian Jade Bentil. Continue reading at The Bookseller
[ The Bookseller | 2019-10-20 15:48:26 UTC ]
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This week: the latest from Nelson DeMille, plus a biography of Thomas Edison from a Pulitzer winner. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-10-18 04:00:00 UTC ]
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Hodder & Stoughton has pre-empted the “exhilarating” début novel from Bethany Clift in a two-book deal. Continue reading at The Bookseller
[ The Bookseller | 2019-10-17 21:25:37 UTC ]
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Penguin Press has snapped up the latest book from George Monbiot in a "major deal". Continue reading at The Bookseller
[ The Bookseller | 2019-10-16 17:00:27 UTC ]
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Netflix has announced three new screen literary adaptations, including one rework based on Elif Shafak’s The Forty Rules of Love (Penguin), as its vice-president for international originals, Kelly Luegenbiehl, said the company wants to partner with publishers, not compete against them. Continue reading at The Bookseller
[ The Bookseller | 2019-10-16 15:24:52 UTC ]
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Editor of The Bookseller Philip Jones will interview former indie publisher turned audiobook pioneer Mark Pearson at the Frankfurt Book Fair, ahead of the announcement of the shortlists for this year’s FutureBook Awards. Continue reading at The Bookseller
[ The Bookseller | 2019-10-16 14:44:34 UTC ]
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Virago has picked up the "memoir with a difference" from Bess Kalb, writing in the voice of her grandmother. Continue reading at The Bookseller
[ The Bookseller | 2019-10-10 09:25:01 UTC ]
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Boris Pasternak’s great-niece Anna claims Lara Prescott’s The Secrets We Kept copied her biography of Pasternak’s loverPublisher Penguin Random House has dismissed claims that Lara Prescott, a debut novelist who received a $2m (£1.6m) advance for her novel about the publication of Boris... Continue reading at The Guardian
[ The Guardian | 2019-10-01 15:39:25 UTC ]
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In a third quarter trading update, Pearson has reported "weaker than expected" performance in its US higher education courseware business, with revenue down around 10%, but it still expects revenues to stabilise for the whole group this year. Continue reading at The Bookseller
[ The Bookseller | 2019-09-26 09:00:05 UTC ]
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Harvill Secker has picked up an "astonishing" novel from Ciarán McMenamin set in Ireland after the First World War. Continue reading at The Bookseller
[ The Bookseller | 2019-09-25 12:14:24 UTC ]
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