Pearson issued a “trading update” on their results Wednesday morning, telling investors they are ready to sell (or recapitalize) their 47 percent stake in Penguin Random House: “With the integration of Penguin Random House complete, and with greater industry-wide stability on digital terms, we intend to issue an exit notice regarding our 47 percent stake in Penguin Random House to our JV partner Bertelsmann in the contractual window, with a view to selling our stake or recapitalizing the business and extracting a dividend.” While those reasons are valid and Pearson was expected to use the window available to them starting […]
