Bertelsmann subsidiary Relias Learning has acquired Florida-based e-learning company RediLearning. Terms of the deal, the first under the Bertelsmann Education Group umbrella, were not disclosed — though a Reuters source puts it at a “medium double-digit million US dollar sum.” The nine-year-old RediLearning provides online training in the field of senior care, primarily through 400 online courses. Bertelsmann ceo and chairman Thomas Rabe said in the announcement: “The acquisition of RediLearning fits perfectly into our education strategy. E-Learning is a strategic segment for Bertelsmann as we develop our education business. Relias is a core investment, and we will continue to develop […]
Finance
Bloomsbury’s Sales Rise On Children’s and Acquisitions, But Profit Declines
In line with their brief first quarter report, Bloomsbury announced more detailed results for the first half of 2015. Overall sales 13 percent, up £6.1 million to £52.7 million, but profit before tax fell by £200,000 to £300,000. (Sales and profits are “significantly second-half weighted.”) The company had £600,000 in restructuring costs related to acquisitions and the restructuring of the Bloomsbury Information, an another £900,000 of amortization related to acquisitions. Continuing the story from last year, children’s division sales rose £16.3 million (up £5.1 million) on John Green’s Paper Towns and new Harry Potter editions, while underlying adult sales fell again. The adult division was up […]
AWS Powers Amazon to Profit and Stock Hits New High
Amazon’s third quarter sales and profits came in at the high end of their guidance from three months ago, and investors promptly lifted shares. After hitting an all-time high early Friday morning, share gains have settled to about 6.5 percent. Net sales increased of $25.4 billion were 23 percent higher than a year ago, and operating income was $406 million — compared to an operating loss of $544 million in the third quarter of 2014 — and net income of $79 million. Amazon pleasantly surprised investors last quarter with operating income of $464 million. (Those gains come even after paying employees higher […]
Pearson’s Stock Falls On Reduced Earnings Forecast; PRH “Solid,” With “Weaker eBook Sales”
Pearson reported third quarter earnings Wednesday morning from London, with sales falling 2 percent overall — down 5 percent on a constant-exhcange-rate basis, and down 4 percent in underlying terms. Following the year’s big asset sales of PowerSchool, Financial Times and The Economist, the company reduced their earnings forecast for the year — now expecting to earn 70 to 75 pence a share, down from a range of 75 to 80 pence a share in February. After a couple of years of supposed turnaround, analysts and markets reacted harshly to the news, sending Pearson shares down over 15 percent. Chief executive John Fallon admitted in […]
People, Etc.
At Graywolf Press, Marisa Atkinson is being promoted to director of marketing and engagement. Casey O’Neil, formerly marketing associate at Milkweed Editions, is joining as sales and marketing manager. Caroline Nitz, formerly publicist at Henry Holt, is joining the press as publicist. Michal Lumsden will join Storey Publishing on November 9 as copywriter & assistant to the publisher . Journalist, editor and author Erin Entrada Kelly has joined Smith Publicity’s book marketing team. At Cave Henricks Communications, Kimberly Petty and Megan Grajeda have been promoted to senior publicist. Publisher of Central Recovery Press Bob Gray, 57, died on October 15, after a long […]
People, Awards, Etc.
Hanya Yanagihara‘s A Little Life earned its first big award win on Thursday, recipient of the Kirkus Prize for fiction, as Ta-Nehisi Coates won the nonfiction prize for Between the World and Me — and both are in contention for National Book Awards. Pam Muñoz Ryan‘s middle-grade novel Echo won the young readers’ literature prize. Longtime executive director of the Northern California Independent Booksellers Association Hut Landon was feted this week as he retires from that position. Bookselling This Week has some testimonials from colleagues and friends reflect on his passion for, and many contributions to, the bookselling community. At Zondervan, Robyn Burwell has […]