The University of Denver’s Publishing Institute (DPI) summer program is going online for the 2020 session, the institute announced Tuesday, “in order to balance student health with the need to preserve the DPI student experience.” The program itself is “mostly unchanged,” with the same instructors, curriculum, and assignments. Most classes will be taught live, but “the online format allows for pre-recorded sessions that students may view when it is most convenient to them.” The application period is open through June 1, and tuition remains unchanged at $4810. The institute is enhancing the program’s networking component “by taking advantage of technology […]
Education
McGraw-Hill Shifts Fiscal Year
On the heels of its cancelled merger with Cengage, McGraw-Hill today issued a limited “preliminary Q4 and full-year report”– or otherwise put, announced that it is delaying full financial reporting for the quarter until mid-June, and changing their fiscal year. The company already reported a fourth quarter, ending December 31, back in early March — but the new report reflects a shift to a fiscal year ending March 31, which they say will better align with seasonal industry cycles. The preliminary report, which lacks full financials, touts their digital growth and provides minor updates on how COVID-19 has affected the […]
People, Etc.
Hannah Rahill has been promoted to senior vice president, backlist strategy and development at the Random House Group, reporting to Gina Centrello. She will collaborate with cross-functional teams including RH Digital, RH Analytics, Consumer Insights, and Sales Management, to collect and distill emerging trends and market data and identify opportunities. Dave Snow, vice president, human resources, at Simon & Schuster will lead S&S human resources and the Rockefeller Center facilities department, reporting to Carolyn Reidy. The human resources staffs in New York and Riverside, as well as the facilities staff in New York, will report to Snow, who will also […]
HMH Reduces Salaries, Withdraws Guidance and More
Following yesterday’s news that HMH Books & Media had temporarily closed its Indiana distribution center as the state is on lockdown, parent HMH issued a business update, announcing a series of cutbacks. The “majority of employees” have been reduced to a four-day work week, at pro-rated pay, while directors and top executives have taken a 25 percent cut in base cash compensation. The ceo has taken a 50 percent reduction in base salary, and “senior leadership” has also taken unspecified salary reductions. They say that all of their warehouses and distribution centers, with additional facilities in Illinois, Missouri, and Florida, […]
McGraw-Hill Cengage Merger Further Delayed As UK Announces Deeper Review
The UK Competition and Markets Authority (CMA) announced March 24 that it would conduct an in-depth review of the planned merger between McGraw-Hill and Cengage. The review, referred to as a Phase 2 investigation, is not expected to conclude before September; meanwhile, competition agencies in the US, Australia, New Zealand, and Mexico are also still reviewing the deal. In a report on the update, McGraw-Hill says, “The completion of the merger is subject to a number of conditions, including, among others, the receipt of approval from governmental entities. No assurance can be given that the required regulatory approvals will be […]
Pearson Pauses Share Buyback, Citing “Prolonged Uncertainty”
Pearson “has decided it is prudent” to pause the rest of their planned £350 million share buyback, the company announced March 23. That repurchase program, under which they have already spent £167 million, was initiated in January as part of a plan to reinvest some of the expected proceeds from selling their remaining stake in Penguin Random House to Bertelsmann. (The sale is expected to close in the second quarter of 2020). Pearson estimated that the temporary closing of their Pearson VUE test centres will reduce operating profit by approximately £25 million to £35 million, and cancellations of state tests […]