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Corporate: Pearson Sells Family Education Network Sites, Harlequin Launches Audio

Pearson has sold their Family Education Network -- the group of websites for kids that includes Poptropica and Funbrain -- to UK-based private equity company Sandbox Partners for undisclosed terms. Founded last year, Sandbox is run by former president of Pearson English Bhav Singh. Pearson spokesperson Brendan O'Grady said the sale is…

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Paulson Will Pull More Money Out of HMH with Secondary Offering and Share Buyback

Houghton Mifflin Harcourt's largest shareholder John Paulson and his associated investment funds will be cashing out another couple of pieces of his investment. The recently announced $300 million in stock repurchases announced by the board apparently includes a deal to buy $150 million of stock directly from Paulson's companies. The price…

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BN Files to Allow Microsoft and Pearson to Sell Their Shares; BAMM Trades Above Buyout Offer

Barnes & Noble filed paperwork with the SEC to prepare the way for Microsoft and Pearson to be able to sell the roughly 3.340 million shares of the bookseller's stock they were given as part of the deals to buy out their stakes in Nook Media LLC. Those shares comprise…

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Bertelsmann Profit Rises In First Quarter, As Attention Turns to Possible PRH Buyout

Bertelsmann issued a brief first quarter trading update (in the European style), with sales just above flat at €3.92 billion and operating EBITDA up 6.7 percent to €463 million (from €434 million a year ago). Net income rose to €143 million from €106 million last year. Though not mentioned in…

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Renewed Talk of A Possible McGraw-Hill Education IPO

On Friday Reuters reported that Apollo Global Management, the owners of McGraw-Hill Education, are once again talking to investment bankers about taking the publisher public -- possibly by the end of the year. zthe "underwriter roles will not be finalized before the summer, four people said this week," though, and the story…

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Houghton to Buy Scholastic's Education Technology Business for $575 Million

Scholastic announced it has signed a definitive agreement to sell its Educational Technology and Services business to Houghton Mifflin Harcourt Company for $575 million in cash. Scholastic expects to have net proceeds of $360 million to $370 million after taxes, fees and expenses. The business unit they are selling had sales of…

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HarperCollins Reaches New Multi-Year Agreement With Amazon

As we intimated in our story last week on HarperCollins' return to full agency pricing, the company has in fact reached a multi-year agreement with Amazon covering print and digital titles. They said in a statement Monday evening: "HarperCollins has reached an agreement with Amazon and our books will continue…

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German Giant Media-Saturn Looks to Build On Bankrupt Txtr

Some publishers were recently informed via email that Germany's txtr, which filed for bankruptcy in late January, will be adopted as the ebook platform for the big consumer electronics retailing group Media-Saturn-Holding as of the beginning of April. (Described as the Best Buy of Germany and/or Europe, the group's Media…

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European Commission Approves Macmillan Science/Springer Merger

The European Commission has approved the cashless merger between Holtzbrinck's Macmillan Science and Education and Springer Science+Business Media, which was first announced back in January. After reviewing the joint venture proposal, the EC found that the two companies "overlap mainly in the market for the provision of academic publishing and, marginally, in…

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No Joke -- An Apparent Amazon Source Uses Business Insider to Pressure Harper Negotiations

Many online stories today need to be taken with a grain of a salt, but the Business Insider story about Amazon and HarperCollins posted Tuesday is apparently meant seriously. An unidentified source whose perspective makes them connected to Amazon tells BI (in which Jeff Bezos is an investor), "The contract…

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