News Corp. reported its first fiscal quarter in its new incarnation as spin-off public company. At HarperCollins, sales of $328 million were down $24 million (7 percent) from a year ago, but EBITDA rose $3 million (or 7.5 percent) to $43 million, on “the higher contribution to profits from e-books and ongoing operational efficiencies.” eBooks comprised 22 percent of sales, up 30 percent from the same quarter a year ago. The company said “improved e-book sales were more than offset by the divestiture of [Thomas Nelson’s] Women of Faith live events business, the decision to exit the third party distribution business […]
