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Sales Slide At Harlequin, With Sale Now Expected Within Days

Harlequin's current parent company Torstar announced second quarter results on Wednesday morning, and the company said it now "anticipate[s] closing the transaction on or about August 1" to sell Harlequin to HarperCollins. They have "received the regulatory clearances and approvals required," and "while the transaction remains subject to certain customary…

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Pearson Steady During Restructuring; PRH "Performed Well"

Pearson reported sales for the first half of the year of £2.047, down 7 percent (but up 2 percent on currency neutral basis). Adjusted operating  profit was 75 million pounds, compared to 137 million pounds a year ago, reflecting bigger charges on their continuing restructuring charges (£43 million so far…

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Scholastic Takes $21.4 Charge, Mostly on Storia, Which Will Switch to School Licensing Model

Scholastic reported fourth quarter and full fiscal year earnings on Thursday morning, with sales rising 8 percent to $549 million and operating income increasing more, at $48.6 million. The stock rose in early morning trading on the improved results and positive guidance for next year. But the company disclosed a…

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Sales Fall 9 Percent at Bloomsbury On Difficult Comp

In a brief "interim statement," Bloomsbury reported that fiscal first quarter sales (for the period ending May 31) were down 9 percent compared to a year ago -- when they had an unusually strong first quarter. All the decline and then some comes from the adult trade division, "as anticipated,"…

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Oxford University Press Results Flat On Year of "Structural Change"

Sales were flat Oxford University Press for the fiscal year ending March 31, 2014, at £759 million, and profit before tax from continuing operations declined £9 million, to £107 million. The press was able to transfer £50 million to the university. Digital sales comprised 19 percent of total revenues and…

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Wiley Ends Fiscal Year Exceeding Expectations

Wiley announced a strong fourth quarter and a good end to a fiscal year that included multiple restructuring charges as the company has remade itself into a "global provider of knowledge and knowledge-enabled services." Fourth quarter sales of $457 million were up $16 million and income was significantly higher on a…

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Sales Rise At Bloomsbury, As Profit Softens

Bloomsbury reported results for their fiscal year ending February 28, with sales rising 11 percent of £109.5 million, but profit after tax of £9.5 million was down slightly (from £9.8 million the year before). All three major publishing divisions -- adult trade; children's and educational; and academic & professional --…

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Corporate: Sales Fall At Lagardere Publishing; HMH Buys Channel One News

First quarter sales at Lagardere Publishing fell 26 million euros (or 6.2 percent) in the first quarter, to 393 million euros, "due mostly to the comparison" to a strong quarter a year ago, which included sales of the Fifty Shades trilogy in France. Similarly, for the US unit, HBG USA…

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Simon & Schuster Grows Profits Even With Sales Down 11 Percent

After a year of record profits, Simon & Schuster continued to maintain strong margins, even with declining sales, in the first quarter of 2014. Sales fell 11 percent to $153 million (down $18 million), but OIBDA was up 8 percent (or $1 million) to $13 million. Parent company CBS said…

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Another Good Quarter for Harper, Thanks to DIVERGENT

HarperCollins reported their fiscal third quarter, ending March 31, with sales rising 14 percent to $354 million and EBITDA gaining even more, nearly doubling to $53 million (compared to sales of $311 million and EBITDA of $29 million a year ago). As noted in the previous quarter, the company cited "the…

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