Pearson issued a first quarter “trading update” in connection with their annual meeting. As expected, results were weak, with overall sales down 6 percent, “in line with expectations.” They say Penguin Random House “had a solid first-quarter performance with a strong bestseller performance and net integration benefits partly offset by reduced demand for ebooks, following industry-wide changes in terms in 2015.” In other corporate news, Reuters reported exclusively that CBS has held “preliminary and ongoing” discussions with investment bankers in recent months regarding “how it could buy CBS’s voting shares from Redstone’s National Amusements Inc, and collapse CBS’s dual-class share […]
