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 ]
News tagged with: #22% stake #$1bn

Other Publishing stories related to: 'Pearson picks up $1bn from Penguin – but no treat for investors | Nils Pratley'

‘Treat display like a legacy product’: Insights from the Digiday Publishing Summit

Revenue diversification strategies are coming together as publishers strengthen direct relationships with their audiences. The post ‘Treat display like a legacy product’: Insights from the Digiday Publishing Summit appeared first on Digiday. Continue reading at Digiday

[ Digiday | 2019-04-03 00:00:00 UTC ]
More news stories like this |

Wilde’s Happy Prince among UN book club’s poverty picks

The launch titles of the United Nations’ Sustainable Development Goals (SDG) Book Club were revealed at Bologna, all of which explore the topic of poverty. Continue reading at The Bookseller

[ The Bookseller | 2019-04-03 00:00:00 UTC ]
More news stories like this | News stories tagged with: #book club #launch titles #united nations

Facebook considering hiring editors to pick quality news for users

Mark Zuckerberg also said he is weighing up paying publishers for use of their journalismFacebook could start employing editors to select “high-quality news” to show to users, in the social network’s latest attempt to lose its reputation as a source for disinformation.Mark Zuckerberg said he is... Continue reading at The Guardian

[ The Guardian | 2019-04-01 00:00:00 UTC ]
More news stories like this | News stories tagged with: #hiring editors #mark zuckerberg #latest attempt

Kings' past haunts them in shootout after Canucks' Tanner Pearson scores winning goal

Tanner Pearson scored in the fourth round of the shootout and the Vancouver Canucks kept their faint playoff hopes alive, beating the Los Angeles Kings 3-2 Thursday night. Brock Boeser and Alex Edler scored in regulation for the Canucks, who are seven points behind Colorado for the second... Continue reading at Los Angeles Times

[ Los Angeles Times | 2019-03-29 00:00:00 UTC ]
More news stories like this |

Penguin Random House Grupo Editorial Appoints Dedicated Sales Manager for Christian Imprints

Shaila Muñoz joins PRHGE with more than a decade working in the publishing industry, most recently at HarperCollins Christian Publishers. Continue reading at Publishers Weekly

[ Publishers Weekly | 2019-03-29 00:00:00 UTC ]
More news stories like this | News stories tagged with: #publishing industry

Penguin Random House buys Little Tiger Group

Penguin Random House has acquired 30-year-old children's indie Little Tiger Group for an undisclosed sum. Continue reading at The Bookseller

[ The Bookseller | 2019-03-28 00:00:00 UTC ]
More news stories like this | News stories tagged with: #tiger group

Butterfield made publisher at Penguin General

Venetia Butterfield has been promoted to the newly created role of publisher at Penguin General Books. Continue reading at The Bookseller

[ The Bookseller | 2019-03-21 00:00:00 UTC ]
More news stories like this | News stories tagged with: #penguin general

Yellow Kite picks up 'game-changing' Booze Control book

Yellow Kite has picked up a "game-changing" examination of alcohol and its effects by Professor David Nutt. Continue reading at The Bookseller

[ The Bookseller | 2019-03-16 00:00:00 UTC ]
More news stories like this | News stories tagged with: #yellow kite

'Breathing expert' Bostock joins Penguin with Exhale

Penguin Life has bought Exhale: The Science and Art of Breathwork from breathing expert Richie Bostock. Continue reading at The Bookseller

[ The Bookseller | 2019-03-13 00:00:00 UTC ]
More news stories like this | News stories tagged with: #penguin life

Potter’s F*** Up picked up by Pan Mac

Pan Macmillan has scooped romantic comedy writer Alexandra Potter’s "uplifting" novel about the pressures of hitting 40 in an "Instagram-perfect" world. Continue reading at The Bookseller

[ The Bookseller | 2019-03-12 00:00:00 UTC ]
More news stories like this | News stories tagged with: #pan mac #pan macmillan

Penguin snaps up Cerys Matthews' cookbook

Penguin Press imprint Particular Books will publish Cerys Matthews' new book, Where the Wild Cooks Go, later this year. Continue reading at The Bookseller

[ The Bookseller | 2019-03-06 00:00:00 UTC ]
More news stories like this | News stories tagged with: #cerys matthews

Penguin Classics to launch London pop-up bookshop

Penguin Classics will launch its first ever pop-up bookshop next month with a series of events and workshops planned. Continue reading at The Bookseller

[ The Bookseller | 2019-02-28 00:00:00 UTC ]
More news stories like this | News stories tagged with: #penguin classics

PW Picks: Books of the Week, February 25, 2019

This week: Ann Leckie's new novel, plus an outstanding true crime book set in Northern Ireland. Continue reading at Publishers Weekly

[ Publishers Weekly | 2019-02-22 00:00:00 UTC ]
More news stories like this | News stories tagged with: #ann leckie #northern ireland

Coelho and Donaldson titles picked for Bookbug programme

Scottish Book Trust will distribute 800,000 titles by authors such as David Melling, Joseph Coelho and Julia Donaldson to toddlers across Scotland as part of the Bookbug initiative. Continue reading at The Bookseller

[ The Bookseller | 2019-02-20 00:00:00 UTC ]
More news stories like this | News stories tagged with: #joseph coelho #david melling #julia donaldson

Pearson reveals launch titles for new indie Guppy Books

Bella Pearson talks to Charlotte Eyre about setting up her own children's publisher, Guppy Books, and its launch titles. Continue reading at The Bookseller

[ The Bookseller | 2019-02-18 00:00:00 UTC ]
More news stories like this | News stories tagged with: #charlotte eyre #launch titles

PW Picks: Books of the Week, February 18, 2019

This week: a stellar anthology of Chinese science fiction, plus Janet Malcolm's new collection. Continue reading at Publishers Weekly

[ Publishers Weekly | 2019-02-15 00:00:00 UTC ]
More news stories like this | News stories tagged with: #stellar anthology

PW Picks: Books of the Week, February 11, 2019

This week: big novels from Christopher Castellani, Lauren Wilkinson, and Valeria Luiselli. Continue reading at Publishers Weekly

[ Publishers Weekly | 2019-02-08 00:00:00 UTC ]
More news stories like this | News stories tagged with: #valeria luiselli

Bella Pearson launches Oxford-based children’s publisher

Bella Pearson, the former publishing director at David Fickling Books, is launching her own company in Oxford, focusing on middle-grade and YA fiction. Continue reading at The Bookseller

[ The Bookseller | 2019-02-05 00:00:00 UTC ]
More news stories like this | News stories tagged with: #ya fiction