Pearson will acquire Personnel Decisions Research Institutes, which provides workforce assessment services, including to the US federal government. PDRI will join Pearson’s Assessment & Qualifications division. The companies have already partnered on assessments for federal jobseekers, and a release states, “This acquisition unlocks synergies between Pearson and PDRI, whilst bringing new capabilities for Pearson to explore as the company grows its long-standing enterprise learning presence.” PDRI is valued at $190 million, which Pearson will pay using existing cash and available liquidity. The deal is expected to close in the first half of 2023, pending regulatory review.
Archives for December 2022
Barnes & Noble Part of “Big-Box Revival”
The WSJ touts Barnes & Noble’s previously-announced store expansion plans as part of a bigger trend, as “several other big-box retailers are expanding again after years of shutting stores, a sign of the industry’s resilience emerging from the Covid-19 pandemic.” The bookseller has said it has “over 30 stores in development for 2023.” BN CEO James Daunt says, “We’ve now got both the profitability and the confidence to start opening up stores again.” The story concedes that, “Many of the new bookstores are smaller in size and opening in markets where larger locations had closed.” Often much smaller, as the […]
People 12/16
AALA Survey: Agents Express “Robust Support” for Harper Collins Strike
In a survey conducted by the Association of American Literary Agents about the Harper Collins strike, the 215 agents responding expressed what the organization calls “robust support” for the union. The AALA writes in a summary of the survey, “Among the supporters, 74.4% back the strike unequivocally while 4.7% are positive with caveats. Meanwhile 9.3% say they are neutral and 11.1% feel they need more information about the issue to form an opinion. Fewer than 1% of respondents say they do not support the strike at all.” The strike is now in its sixth week, with workers demanding a higher […]
Amazon Antitrust Settlement With EU Coming
Something to keep an eye on in the quiet holidays ahead: Amazon and the European Union are reported to have agreed upon a settlement of two antitrust cases, which “will force the company to make significant changes to its business practices,” the NYT reports. They expect the settlement to be announced formally on December 20. People “with knowledge of the deal” say that it will “require Amazon to give makers of rival products equal access to valuable real estate on its website, said the people, who would speak only anonymously before the official announcement. The company will also be barred […]
Scholastic Book Fairs Rise to 85% of Pre-Pandemic Levels, As Trade Slides 4 Percent
Scholastic reported earnings results for the second quarter ended November 30, with sales of $588 million, up 12 percent from $524 million last year, driven by “strong results” in Children’s Book Publishing and Distribution and gains in Book Fairs. Operating income was 20 percent ahead of last year, at $100.1 million, and adjusted EBITDA was $122.3 million, a 14 percent gain. The company credited these results to higher sales and profits in the Children’s Books segment, as well as “cost containment” related to inflation. Trade sales, which had reached all-time high levels, dipped 4 percent to $120 million due to […]