Pearson announced an agreement to sell their international online program management business, Pearson Online Learning Services (POLS), to private equity firm Regent. There is no cash payment; Pearson will receive a portion of the business’s positive adjusted EBITDA over the next six years. The business, which had been pending sale under “strategic review,” lost £26 […]
M&A
Lagardere Board Approves Radio Spinoff
As Lagardere and Vivendi both take steps to ease the path towards approval of their pending merger by the European Commission, Lagardere’s board has approved a plan floated earlier to preserve the independence of their radio division. The company intends to spin the radio division (comprising Europe 1, Europe 2 and RFM) into a separate, […]
New Strategy: Vivendi Will Sell Editis Outright
Vivendi announced it is abandoning its plan to spin off publishing company Editis into an independent, publicly traded company, and instead they are negotiating to sell the division outright. Vivendi “received several offers for the sale of 100 percent of the shares of Editis,” and has “decided to enter into exclusive negotiations” with International Media […]
On Schedule, Paramount Restarts Sales Process for Simon & Schuster
“Sources” confirm to Reuters that Paramount Global has begun shopping Simon & Schuster again through a financial adviser. Liontree advised the company on the sale to Penguin Random House that was blocked by the court. As expected, those sources also suggest the company is focusing on the clear, uncomplicated path to successful sale this time: […]
Audio: Obamas to Audible; Playaway to PRH
Audible will release taped conversations from Michelle Obama’s THE LIGHT WE CARRY tour as an eight-episode podcast. Michelle Obama: The Light Podcast will air weekly, starting on March 7, and available exclusively on Audible for two weeks before opening up to other streaming platforms. This marks the first release after the Obamas’ Higher Ground productions […]
UTA Acquires Fletcher & Company
UTA announced that it has acquired literary agency Fletcher & Company. Founder and ceo Christy Fletcher will co-lead the UTA Publishing division along with current head Byrd Leavell, with both reporting to UTA President David Kramer. (Fletcher and Leavell had been colleagues at Carlisle and Company many years ago.) The entire team at Fletcher & […]