Pearson picks up $1bn from Penguin – but no treat for investors | Nils Pratley

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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Festival Picks: Edinburgh International Book Festival

The International Literature ShowcaseExceptional times call for exceptional writers. International bestselling crime novelist, journalist and Man Booker judge Val McDermid will reveal her selection of the most compelling LGBTQI+ writers working in the UK today. Val McDermid presents...10 August,... Continue reading at British Council global

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Lagom picks up Instagram star Edmunds' breastfeeding guide

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Spain’s Penguin Random House Grupo Editorial Buys Catalan La Campana Llibres

Hoping 'it helps Penguin Random House Grupo Editorial increase its presence in the Catalan-language market,' the company buys the 34-year-old La Campana. The post Spain’s Penguin Random House Grupo Editorial Buys Catalan La Campana Llibres appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

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Penguin Press buys Italian designer's 'colour bible'

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PRH Added £25 Million to Pearson's First Half Earnings

As Pearson continues to overhaul its education operations, the company said its stake in Penguin Random House contributed £25 million to its adjusted operating profit, up from £22 million in the first half of 2018. Continue reading at Publishers Weekly

[ Publishers Weekly | 2019-07-29 04:00:00 UTC ]
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Pearson must ‘force’ change in behaviour

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Investors Say Data Ambiguity Is Dampening Ad Tech’s Luster

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2 Sunwing Airlines workers among 11 charged in drug ring 'centred at' Toronto's Pearson airport

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Soccer star Megan Rapinoe signs book deal with Penguin Random House

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Penguin Random House and Kellogg’s Renew ‘Feeding Reading’ Promotion

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Megan Rapinoe Signs with Penguin for Adult, MG Books

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After placing the winning bid in the auction for the book assets of bankrupt F+W Media, Penguin Random House has completed the purchase of 2,000 titles and that announced the works will become part of the Penguin Publishing Group. Continue reading at Publishers Weekly

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Pearson shifts to Netflix-style subscription model for textbooks

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Pearson Puts Print Books to Bed

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