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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Written By: Charlotte Williams Publication Date: Thu, 28/04/2011 - 08:00 Viking has been scanning the local papers and choosing the most eyebrow-raising headlinesoften for all the wrong reasonsin a tribute to the quirky world of slow news days. Whitstable Mum in Custard Shortage . . And... Continue reading at The Bookseller
[ The Bookseller | 2011-04-28 00:00:00 UTC ]
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Written By: Bookseller Staff Publication Date: Wed, 27/04/2011 - 08:40 Penguin USA is to launch a community website for genre writers called Book Country (bookcountry.com). The site began a public beta test this week and describes itself as "a place where readers and writers of genre fiction... Continue reading at The Bookseller
[ The Bookseller | 2011-04-27 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Tue, 12/04/2011 - 08:30 Penguin is topping the table with an industry-leading six nominations in the 2011 Bookseller Industry Awards. Following closely behind in the nomination league tables are HarperCollins and Hodder & Stoughton, both listed... Continue reading at The Bookseller
[ The Bookseller | 2011-04-12 00:00:00 UTC ]
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Written By: Philip Jones Publication Date: Wed, 06/04/2011 - 14:58 Penguin group chief executive John Makinson took home £1.5m in pay in 2010, in a year when Penguin's sales grew 21% to £1.1bn and adjusted operating profit grew 19% to £106m. Makinson's pay rose by £150,000 thanks to a rise in... Continue reading at The Bookseller
[ The Bookseller | 2011-04-06 00:00:00 UTC ]
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Written By: Katie Allen Publication Date: Mon, 04/04/2011 - 08:51 Emma Donoghue's Room (Picador) has added another accolade to its Man Booker shortlisting and Orange-longlisting after receiving the vote of "TV Book Club" viewers as their favourite spring read of the 10 titles. The second most... Continue reading at The Bookseller
[ The Bookseller | 2011-04-04 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Fri, 25/03/2011 - 08:33 Penguin has bought what promises to be a "riveting" account of one of the biggest murder cases in Northern Ireland, featuring infidelity, laughing gas and a confession 20 years after the event. Penguin Ireland m.d.... Continue reading at The Bookseller
[ The Bookseller | 2011-03-25 00:00:00 UTC ]
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Publication Date: Tue, 22/03/2011 - 17:23 Ten young illustrators, including artists published by Walker, Simon & Schuster and Tate, have been named as the Booktrust Best New Illustrators 2011. The 10 were presented with their awards at a ceremony in central London this evening [22nd March]... Continue reading at The Bookseller
[ The Bookseller | 2011-03-22 00:00:00 UTC ]
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Looks like Conde Nast might be putting Voice of the Internet Reddit on the lot. Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-22 00:00:00 UTC ]
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Written By: Bookseller Staff Publication Date: Thu, 10/03/2011 - 15:15 James, Aunts Spiker and Sponge, as well as the Centipede, Ladybird and Earthworm will be celebrated this spring as Puffin publishes a 50th anniversary edition of Roald Dahl's James and the Giant Peach, and launches a... Continue reading at The Bookseller
[ The Bookseller | 2011-03-10 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Mon, 07/03/2011 - 09:03 Penguin is to treble its investment in digital content in 2011 compared to 2010, as both Pearson and Bloomsbury cited a leap in digital sales as a key reason for growth in their interim full-year results, released last... Continue reading at The Bookseller
[ The Bookseller | 2011-03-07 00:00:00 UTC ]
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Written By: Bookseller Staff Publication Date: Tue, 01/03/2011 - 08:25 Pearson has begun a legal process to ascertain whether the stake held by its fifth biggest shareholder, the Libyan Investment Authority, needs to be frozen after the government moved to freeze the assets of Muammar Gaddafi... Continue reading at The Bookseller
[ The Bookseller | 2011-03-01 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Tue, 01/03/2011 - 15:50 The Orange New Writers Book of the Month promotion launches today [1st March] featuring Emma Henderson as the first writer to receive a month-long promotion in Waterstone's. read more Continue reading at The Bookseller
[ The Bookseller | 2011-03-01 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Wed, 16/02/2011 - 07:00 Penguin and Hachette were the big winners at the Publishers Publicity Circle awards, each coming away with three awards. The ceremony was held at Dolada in central London last night (15th February); the awards are given to the... Continue reading at The Bookseller
[ The Bookseller | 2011-02-16 00:00:00 UTC ]
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Written By: Benedicte Page A new Media and Entertainment group has been created within Penguin Childrens Books under newly promoted publishing director Eric Huang. The group combines the BBC Children's, Sunbird and Ladybird licensing teams. Penguin Children's Books m.d. Francesca Dow said... Continue reading at The Bookseller
[ The Bookseller | 2011-02-03 00:00:00 UTC ]
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Written By: Charlotte Williams Amazon.co.uk has selected books published by Myriad Editions, Fig Tree, Atlantic Books and Simon & Schuster as its four Rising Stars for this quarter. Snowdrops by A D Miller (Atlantic Books) is currently the featured book, with a Q&A with Miller on the... Continue reading at The Bookseller
[ The Bookseller | 2011-02-02 00:00:00 UTC ]
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Written By: Charlotte Williams Penguin has been appointed the exclusive publisher for Sainsbury's Book Club, providing all titles in the promotion between July 2011 and July 2012. Authors set to feature in the club include Marian Keyes, Clive Cussler, Jeff Kinney and Rick Riordan, with exact... Continue reading at The Bookseller
[ The Bookseller | 2011-01-26 00:00:00 UTC ]
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Sanchia Berg reports on the publishing company Pearson who have bought a majority stake in an Indian online tutoring company Tutorvista Continue reading at BBC News
[ BBC News | 2011-01-21 00:00:00 UTC ]
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Pearson, the publisher of the Financial Times, said it expects its headline company operating profits to balloon by around 20% in 2010, helped by the performance of its flagship business newspaper. Continue reading at Media Week
[ Media Week | 2011-01-19 00:00:00 UTC ]
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