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 books we love coming out this week include new titles by Luigi Musolino, Virginia Heath, and Maya C. Popa. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-11-04 04:00:00 UTC ]
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The uncertainty comes at a time when publishing is facing slumping sales after a pandemic boom, and fears of recession. Continue reading at The New York Times
[ The New York Times | 2022-11-01 22:14:42 UTC ]
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A Federal Court has blocked Penguin Random House's acquisition of one of its main rivals, Simon & Schuster. Continue reading at Book Riot
[ Book Riot | 2022-11-01 16:06:02 UTC ]
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The government’s case blocked the merger of two of the United States’ largest publishers and reflected a more aggressive approach to curbing consolidation. It was closely watched by the publishing industry. Continue reading at The New York Times
[ The New York Times | 2022-11-01 01:28:52 UTC ]
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Biden administration receives a clear victory, with the judge ruling the blockbuster merger would diminish competition in book publishing. Continue reading at Los Angeles Times
[ Los Angeles Times | 2022-11-01 00:51:06 UTC ]
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Justice department argued the melding of the publishing house with Simon & Schuster would harm competition and authors’ payA US judge has blocked the $2.2bn planned merger of Penguin Random House, the world’s largest book publisher, with rival Simon & Schuster.Judge Florence Pan of the... Continue reading at The Guardian
[ The Guardian | 2022-11-01 00:30:18 UTC ]
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In a brief two-page order issued late on October 31, Judge Florence Y. Pan blocked PRH's bid to buy S&S, saying the government had succeeded in showing that the proposed merger would harm "competition in the market for the U.S. publishing rights to anticipated top-selling books." Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-31 04:00:00 UTC ]
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The books we love coming out this week include new titles by Ausma Zehanat Khan, Jennifer Homans, and Hayao Miyazaki. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-28 04:00:00 UTC ]
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The books we love coming out this week include new titles by Emily Tamkin, Katherine Corcoran, and Alisha Rai. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-14 04:00:00 UTC ]
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Reese Witherspoon and 'Good Housekeeping' pick Celeste Ng's latest, Jenna Bush Hager spotlights Joanna Quinn's debut, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-10 04:00:00 UTC ]
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The books we love coming out this week include new titles by Leonard Cohen, Moriel Rothman-Zecher, and Charlayne Hunter-Gault. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-07 04:00:00 UTC ]
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The books we love coming out this week include new titles by C.J. Box, Naomi Novik, and Greg Wade. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-23 04:00:00 UTC ]
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Oprah has been selecting books for her book club since 1996. How well do you know which ones have made this prestigious list? Continue reading at Book Riot
[ Book Riot | 2022-09-22 10:35:00 UTC ]
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The Penguin Publishing Group will launch a new imprint, Thesis, a sister imprint to the Portfolio and Sentinel imprints publishing “urgent idea-driven nonfiction.” Bria Sandford and Niki Papadopoulos will oversee the imprint's editorial operations. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-21 04:00:00 UTC ]
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TikTok users can now link their favorite books from Penguin Random House within their videos following a partnership between the video creation platform and the publisher. Users in the U.K. and U.S. can click "Add Link" and select "Book" prior to posting their video, at which point any Penguin... Continue reading at AdWeek
[ AdWeek | 2022-09-20 19:30:00 UTC ]
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Reese and 'Good Housekeeping' pick Margaret Wilkerson Sexton's latest novel, TikTok spotlights Bolu Babalola's 'Honey and Spice,' and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-07 04:00:00 UTC ]
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The books we love coming out this week include new titles by Maggie O’Farrell, James M. Scott, and Jonathan Escoffery. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-02 04:00:00 UTC ]
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Women-operated and founded podcast network Lemonada Media is launching a book club in partnership with publishing company Penguin Random House. Starting September, the Lemonada Book Club will select recent or upcoming fiction and nonfiction book releases under PRH--aligned with topics related to... Continue reading at AdWeek
[ AdWeek | 2022-08-31 12:13:11 UTC ]
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"Dopesick" author Beth Macy profiles the volunteers and outreach workers who bring hope, not judgment, to drug users. Continue reading at The Washington Post
[ The Washington Post | 2022-08-26 10:00:20 UTC ]
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The books we love coming out this week include new titles by Rio Cortez, Charles S. Cockell, and Rachel Rabkin Peachman and Anna C. Wilson. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-08-25 04:00:00 UTC ]
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