Wiley announced Tuesday it has signed a definitive agreement to acquire education services provider Learning House from Weld North Holdings for $200 million in cash. The transaction is expected to close on or around November 1. The Louisville, KY-based Learning House provides online program management (OPM) services for colleges and universities, along with professional development services…
Education
Kaplan to Swallow Barron’s Test Books
Kaplan Test Prep has acquired key assets of longtime rival Barron’s Educational Series, including the test prep, study aid, and foreign language assets, as well as the Barron’s brand name. The acquisition comprises about 650 of Barron’s more than 2,000 titles, also including their reference, business, and law titles. As Newsday notes, “The purchase combines…
Quarto Has Better Sales, Still with Big Loss; Bertelsmann to Buy OnCourse Learning
Quarto reported half-year results, with sales showing some improvement, as revenues rose $6 million to $56.2 million. Some of that gain reflects a shift in the “seasonal split of co-edition revenues, with a higher percentage than normal of expected full-year revenues achieved in the first half.” Their operating loss of ($7 million) was slightly improved…
Barnes Education Sees Sales Gains, Takes Huge Writedown
Barnes & Noble Education reported its third quarter results for the 13-week period ending January 27. While sales of $603 million increased $82 million, or 15.7%, as compared to a year ago, BNED incurred a net loss of $283 million, compared to net income of $3.8 million the prior year. The recent acquisitions of MBS…
Barnes Education Grows Profits On Still-Weak Sales
Barnes & Noble Education has performed so poorly that an uptick in profits for their fiscal second quarter — even as college bookstore and textbook sales comps fell — has lifted the stock. With net income for the back-to-school quarter of $48.4 million, compared to $29.3 million, the stock rose almost 25 percent in early…
People, Etc.
Ryan Doherty will be join Celadon Books, Macmillan’s new trade book division, as executive editor starting September 12. He has been vice president of literary development at Sony Pictures Entertainment (after a number of years as an editor at Ballantine). Celadon Books co-publishers Jamie Raab and Deb Futter say: “Ryan’s ability to identify high quality works of…