Pearson profit warnings wipe almost £2bn off its value

Education giant plans sale of stake in Penguin Random House to Bertelsmann as it cuts payout to shareholdersAlmost £2bn was wiped from the stock market value of Pearson after the beleaguered FTSE 100 company issued profit warnings for the next two years and said it would cut its payout to shareholders.The group is also putting up for sale its 47% stake in publisher Penguin Random House. Related: Will the Pearson chief be brought to book over profits warnings? | Nils Pratley Related: Redundancy fears as Penguin Random House derecognises staff unions Continue reading... Continue reading at 'The Guardian'

[ The Guardian | 2017-01-18 00:00:00 UTC ]
News tagged with: #47% stake #pearson chief #stock market #profits warnings #redundancy fears

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Freedom to Read Advocates Warn of Proposed ‘Book Rating’ Bill in Texas, Rising Book Bans in Missouri

While still in the early stages of the legislative process, the proposed bill in Texas would require publishers to develop a new rating system for books, and would give Texas state officials the power to bar schools from doing business with publishers who do not comply with the state’s directives. Continue reading at Publishers Weekly

[ Publishers Weekly | 2022-11-17 05:00:00 UTC ]
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Profits, Sales Tumble at HarperCollins

Sales dropped 11% and profits plunged 54% in the quarter ended September 30 at HarperCollins. Much lower sales of print books through Amazon impacted the revenue decline, and higher costs across the board contributed to the profit drop. Continue reading at Publishers Weekly

[ Publishers Weekly | 2022-11-09 05:00:00 UTC ]
More news stories like this | News stories tagged with: #lower sales #print books #revenue decline #higher costs

S&S Sales Up 10% in Q3, but Profits Are Flat

Though its third-quarter results slowed compared to the first half of 2022, Simon & Schuster remains on track to have a record year, which CEO Jonathan Karp attributed to employees' ability to stay focused on books despite the company being for sale for more than two years. Continue reading at Publishers Weekly

[ Publishers Weekly | 2022-11-02 04:00:00 UTC ]
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Quarto Posts Big Jump in Profits

Quarto Group reported that revenue rose 9% in the first six months of 2022 over the comparable period in 2021, to $61.9 million, and net income jumped 124%, to $4.7 million. Continue reading at Publishers Weekly

[ Publishers Weekly | 2022-08-30 04:00:00 UTC ]
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Toronto's Pearson airport now 2nd worst in world for delays. Ottawa says travel woes on the mend

On Friday, the transport minister told a parliamentary committee that Canada's travel chaos is dissipating. But critics and travellers say the situation remains turbulent. Continue reading at CBC

[ CBC | 2022-08-20 08:00:00 UTC ]
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News Corp almost doubles its profits on back of digital advertising and subscribers

Rupert Murdoch’s publishing and media giant attributes record profits and revenue to acquisitions and digital transformationRupert Murdoch’s News Corporation has almost doubled its profits in 2021/22 to a record $US760m ($A1.1bn).The US-listed company owns News Corp Australia, as well as... Continue reading at The Guardian

[ The Guardian | 2022-08-08 23:21:18 UTC ]
More news stories like this | News stories tagged with: #digital advertising #rupert murdoch #news corporation #majority stake #book publisher #news corp

Winnipeg-bound passengers given mats, left to sleep on floor at Toronto Pearson airport

After several flight delays, passengers flying out of Toronto's Pearson airport were made to sleep on the floor when their flights to Winnipeg were finally cancelled around midnight on Sunday morning.  Continue reading at CBC

[ CBC | 2022-08-08 12:16:55 UTC ]
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Sales, Profits Skyrocket at S&S in Q2

Second quarter sales jumped 34% over last year’s second quarter at Simon & Schuster, and operating income leapt 54%. The strong results followed a first quarter which CEO Jonathan Karp said "defied gravity." Continue reading at Publishers Weekly

[ Publishers Weekly | 2022-08-04 04:00:00 UTC ]
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College textbook maker Pearson eyes NFTs to claim a cut of second-hand sales

NFT advocates often tout the technology's ability to grant the creator a cut of second-hand sales as one of its major attributes. Artists can earn from one of their digital creations years after first selling it. Others are looking at NFTs to earn a buck from the secondary market too, including... Continue reading at Engadget

[ Engadget | 2022-08-03 20:10:20 UTC ]
More news stories like this | News stories tagged with: #second-hand sales #nft advocates #major attributes #secondary market #analogue world #makes sense #pearson

Pearson plans to sell its textbooks as NFTs

Educational publisher’s move into non-fungible tokens is intended to claw back some of the income lost to secondhand salesTextbook publisher Pearson plans to profit from secondhand sales by turning its titles into non-fungible tokens (NFTs), its chief executive has said.Educational books are... Continue reading at The Guardian

[ The Guardian | 2022-08-02 15:37:17 UTC ]
More news stories like this | News stories tagged with: #digital textbooks #pearson plans #educational publisher #non-fungible tokens #claw back #educational books #pearson

Toronto's Pearson airport has a PR problem: It's known as the worst airport in the world

Following mass complaints about line-ups, flight disruptions and missing baggage at Pearson International Airport, some tourism groups fear travellers may choose to bypass Toronto. Continue reading at CBC

[ CBC | 2022-07-29 08:00:00 UTC ]
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Mirror owner’s profits fall by nearly a third as newsprint costs soar

Reach, which also publishes the Star and the Express titles, says Ukraine war has affected advertisingThe rising cost of paper has dented profits at the publishing company Reach, which owns titles including the Mirror, the Express and dozens of local newspapers.Physical newsprint costs have... Continue reading at The Guardian

[ The Guardian | 2022-07-26 11:26:46 UTC ]
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Reach warns on ad slowdown and 40% drop in programmatic yields

National and regional news publisher says Ukraine war coverage is turning off brands. Continue reading at Media Week

[ Media Week | 2022-07-26 10:13:19 UTC ]
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'Chaos' at Toronto's Pearson airport could continue until end of August, ex-Air Canada exec says

Extremely long wait times being experienced by arriving and departing passengers at Toronto Pearson Airport are likely to continue until Labour Day, a former Air Canada executive said Wednesday. Continue reading at CBC

[ CBC | 2022-06-08 17:55:58 UTC ]
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Russian plane grounded at Pearson airport racks up massive parking bill

A Russian cargo plane stranded at Toronto Pearson International Airport is racking up parking fees of more than $1,000 per day. Continue reading at CBC

[ CBC | 2022-06-02 18:22:24 UTC ]
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Ukrainians stranded at Pearson Airport forced to rely on the kindness of strangers on social media

A lack of information from the federal government has forced some Ukrainians fleeing the war to turn to social media for help when they land at Toronto's Pearson Airport. Continue reading at CBC

[ CBC | 2022-05-12 09:00:00 UTC ]
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Profits Fell 16% at HarperCollins

Higher manufacturing and freight costs, and ongoing supply chain and inflationary pressures, resulted in a 16% drop in earnings at HarperCollins for the quarter ended March 31, 2022. Sales rose 5%. Continue reading at Publishers Weekly

[ Publishers Weekly | 2022-05-06 04:00:00 UTC ]
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The profiteers of the coronavirus pandemic

When the outbreak started, many saw a chance to make a buck, writes J. David McSwane Continue reading at The Washington Post

[ The Washington Post | 2022-04-22 12:00:17 UTC ]
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America's Biggest Publishers Keep Posting a Profit

The four of the Big Five publishers to release their financial results publicly all saw strong increases in earnings in 2022. Continue reading at Publishers Weekly

[ Publishers Weekly | 2022-04-01 04:00:00 UTC ]
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Trump swooped in to profit from White House photographer’s book deal – report

Ex-president blocked Shealah Craighead plan and then made up to $20m from publishing images in own memoir, New York Times saysDonald Trump blocked plans by his chief White House photographer to publish a book of pictures of his time in power – then published a book of such images himself, the... Continue reading at The Guardian

[ The Guardian | 2022-03-31 22:37:41 UTC ]
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