As a corporate connection to Saudi Arabia becomes untenable in the eyes of many, Endeavor Content is now reported to be working on a deal to buyback the $400 million investment made in the talent and entertainment company by Saudi Arabia’s sovereign wealth fund earlier in the year. “Sources say paperwork is being drawn up…
Finance
Wiley Buys Learning House for $200 Million
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…
Barnes & Noble Reiterates Make or Break Pledge to Fix Their Website
Barnes & Noble held its annual shareholders meeting on Wednesday morning, to a warm crowd of 50 or so rapt listeners, with a few hecklers reliably in the mix. (One gentleman guffawed both times CFO Allen Lindstrom said the word “innovation.”) Chairman Len Riggio kicked off the day by reiterating their celebration from early September…
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…
Meredith to Stop Operating Oxmoor House
Meredith has changed strategy for Oxmoor House, the 40-year-old cooking and crafts trade book publisher acquired as part of their purchase of Time Inc. (which in turn had acquired Oxmoor when it bought Southern Progress in 1985). Going forward they intend to license the Oxmoor list to another trade publisher — as the company has…