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 division published best-selling books by Ta-Nehisi Coates, Trevor Noah and more. Its closing is the latest move by Penguin Random House to streamline operations. Continue reading at The New York Times
[ The New York Times | 2019-01-26 00:00:00 UTC ]
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This week: Maurice Carlos Ruffin's stellar debut novel, plus a surreal political thriller in which assassination is a business “driven by market forces.” Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-01-25 00:00:00 UTC ]
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This week: a Kafkaesque suburban horror story, plus Stephanie Land's memoir about the struggles she faced as a young single mother living in poverty. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-01-18 00:00:00 UTC ]
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Penguin Random House completed moving its Penguin staff members that had been working on Hudson St. to 1745 Broadway, where Random House has long had its headquarters, on January 2. PW talked with PRH US CEO Madeline McIntosh about the move. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-01-18 00:00:00 UTC ]
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Pearson has reported making "good financial and strategic progress in 2018", despite a small revenue fall during the year, saying in its January trading update that it expects to have halved net debt in 2018 and will deliver underlying profit growth of 8% at £540-£545m. Continue reading at The Bookseller
[ The Bookseller | 2019-01-17 00:00:00 UTC ]
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British book buyers awoke in January from their collective holiday hangover/food coma and embraced "New Year, New You" tightly, with 12 titles in last week's UK Official Top 50 in the healthy eating, fitness and personal development space, led by Joe Wicks' latest chart-topper. Continue reading at The Bookseller
[ The Bookseller | 2019-01-09 00:00:00 UTC ]
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Though we've named our best books of 2017, we all have our personal favorites, and not all of them are from 2017. These are the best books we read this year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-12-26 00:00:00 UTC ]
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Publisher says it hopes to help the #ReadtheOnePercent pop-up store in south London ‘smash its target’ of £30,000, which it is crowdfunding in order to become permanentPenguin Random House has pledged £15,000 to south London’s #ReadtheOnePercent bookshop, which only stocks children’s books with... Continue reading at The Guardian
[ The Guardian | 2018-12-19 00:00:00 UTC ]
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The attachment that Tanner Pearson has with the No. 14 jersey runs deep. He wore it “my whole life,” from when he was a mite hockey player to the Manchester Monarchs. That ended when he got called up to the Kings in 2013 and wound up being a part of their 2013-14 championship season. “When I got... Continue reading at Los Angeles Times
[ Los Angeles Times | 2018-12-15 00:00:00 UTC ]
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In his annual year-end letter to staff, Penguin Random House CEO Markus Dohle cited the success of 'Becoming', a long list of literary awards and best book citations, and the continued global growth of audiobook sales as 2018 highlights. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-12-13 00:00:00 UTC ]
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We asked the authors of our top 10 books of 2018 to share their favorite titles published this year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-12-13 00:00:00 UTC ]
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Rick Bragg's 'The Best Cook in the World' and 'Enlightenment Now' by Steven Pinker were two of our favorites for this year. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2018-12-08 00:00:00 UTC ]
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This week: the winner of the 2018 Man Booker Prize, plus Yan Lianke's satiric, chilling take on China’s policy of forced cremation. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-12-07 00:00:00 UTC ]
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This week: around the world in 20 languages, plus the love-hate relationship between L.A. and its inhabitants. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-11-30 00:00:00 UTC ]
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Two corporate leaders in international publishing, Penguin Random House and Ingram, are kicking off the 'season of giving' with support for book related charities. The post ‘Giving Tuesday’: Penguin Random House Supports Worldreader, Ingram Supports Binc appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2018-11-27 00:00:00 UTC ]
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This week: Amparo Dávila's creepy story collection, plus the lies women tell about sex—and the truths they reveal. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-11-16 00:00:00 UTC ]
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Pearson has agreed the sale of its FT freehold and corporate headquarters at One Southwark Bridge to M&G Real Estate for £115m. Continue reading at The Bookseller
[ The Bookseller | 2018-11-15 00:00:00 UTC ]
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Amazon said it will begin hiring for its new headquarters in New York City and Arlington, Va., in 2019. The company is also opening a operations center in Nashville. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-11-13 00:00:00 UTC ]
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Michelle Obama’s memoir, issued next Thursday in a simultaneous global publication, is the recipient of Penguin General’s biggest ever marketing spend, with campaigns to run across formats, platforms, and even on the bare walls of Brixton... Continue reading at The Bookseller
[ The Bookseller | 2018-11-09 00:00:00 UTC ]
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Inception's Bookful app has the advantage of the beloved Beatrix Potter content and other Penguin Random House brands on which to base its first six digital books. The post Inception Announces Bookful, an AR Platform Licensing Penguin Random House Brands appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2018-11-07 00:00:00 UTC ]
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