Date

Tue - 29.07.2014


Pearson

It’s official: Penguin and Random House are betrothed, their parent companies Pearson and Bertelsmann announced today.

As is often the case with arranged marriages, it is hoped that this union will allow the two houses to consolidate their power: together, the book publishers are expected to control over one quarter of the U.S. and British markets, and to generate approximately £2.5 billion (or $4 billion) in annual revenue.

And as with so many weddings these days, theirs is “subject to regulatory approval;” if all goes well, they will likely tie the knot in the latter half of 2013.

The idea of huddling together was no doubt influenced by the increasing need for publishers to puff out their chests against retailing giant Amazon, which has cornered 90 percent of the UK ebook market, and nearly 40 percent of the market for all books, according to Quartz.

Author

Emma Knight's picture

Emma Knight

Date

2012-10-29 19:24

The FT Group, publisher of The Financial Times, revealed that digital subscriptions to the newspaper grew by 50 percent to more than 180,000 in the first nine months of 2010, paidContent.org reported today.

The division, which is part of Pearson publishing group, saw a 11 percent increase in sales "thanks to a strong performance at the Financial Times, both in the digital and hard-copy newspaper formats," the FT.com informed.

The results show that the micropayment system launched in March by allowing registered users to access ten free articles a month is working, 233grados.com explained.

Overall, Pearson reported an operating profit of 15 percent and a revenue growth of 8 percent. Sales were up by 7 percent, Bloomberg reported. In a statement, the company said its earnings per share are expected to increase by 10 percent.

Author

Clara Mart

Date

2010-10-26 00:49

Pearson PLC, owner of the Financial Times, reported a 27 percent increase in the newspaper's digital readership in the first six months of the year, Media Week revealed today.

According to the company, the number of registered users at FT.com went up by 77 percent to 2.5 million, while its iPad application reached almost 250,000 downloads.

The economic daily recorded a sales increase of 7 percent to £190 million, and it doubled its operating profit, from £14 million to £30 million, due to an advertising revenue growth, Reuters explained.

"The FT is growing in both digital and print advertising and all regions of the world are increasing," Pearson's Chief Executive Officer Marjorie Scardino said, Bloomberg quoted. "We see a steady increase, though our strategy is to move away from a dependency on advertising. There is poor visibility still in advertising."

Author

Clara Mart

Date

2010-07-26 19:36

Pearson, the owner of the Financial Times, announced its Q1 revenues are up 7 percent to £1.08 billion on "volatile" but growing ad revenue at its newspaper business, Media Guardian reported.

The newspaper division, FT Publishing, has seen strong growth in print and online subscriptions and its "return to growth in advertising revenues contribute[d] to a good first quarter."

All parts of the company had a good start this year, with trading met with expectations, as well as the forecast of underlying profit growth this year. "We are encouraged by a more positive environment for corporate and financial advertising, but booking remain volatile and visibility remains poor," according to the company, Media Guardian reported.

"The first quarter never tells us a great deal about the full-year, but our direction of travel is encouraging. We've seen some improvement in markets that were tough for us through the recession, but we remain cautious about the economic outlook," said Marjorie Scardino, chief executive of Pearson.

Author

Erina Lin

Date

2010-05-01 00:46

UK publisher Pearson PLC announced Wednesday it has bought Medley Global Advisors, which advises hedge funds, investment banks and asset managers, as it aims to focus on subscriptions over advertising, Reuters reported.

Pearson, which publishes the Financial Times, is looking to diversify its business model. In 2008, it bought an online news and discussion service aimed at fund managers called Money-Media, for example. It has also bought several data providers, such as MergerMarket, to cut down on reliance on print and advertising for revenues, according to the Daily Mail.

Neither company provided details on the size of the deal. According to a statement in the Financial Times, the group said MGA specialises in macroeconomic policy commentary, particularly focusing on interest rates, money supply movements and government policy. It is believed to have "a blue-chip client base made up of major investors and policymakers."

Author

Savita Sauvin

Date

2010-02-04 23:59

In light of the 11 percent rise in profits at the Financial Times in 2008, FT staff will announced they would hold a strike ballot in protest of 80 job cuts and a pay freeze Media Guardian reported Wednesday. The staff also said on Thursday they would discuss the matter in person with Marjorie Scardino, CEO of FT's parent company, Pearson.

Shareholder dividends are up 7 percent, yet employees are taking pay cuts, said David Crouch, acting father of the FT's chapel for the National Union of Journalists. "Does Pearson value its staff less than its shareholders? If staff are being asked to share pain, why are shareholders not included?" he wrote to the FT's managing editor, Dan Bogler.

FT staff will also question why the 32 percent increase in profits to £74 million for the FT, FT.com and FT Business has not resulted in less redundancies, Media Guardian reported.

The FT union will also request that editorial staff be given profit-related bonuses and that the salaries for low paid employees be raised.

A spokesman for the FT said no compulsory redundancies will come from editorial.

Author

Leah McBride Mensching

Date

2009-03-05 23:48

Excluding potential benefits from its key education business, Pearson, owner of the Financial Times, announced it projects its 2009 earnings will be equal to or more than last year's levels, the Financial Times reported Monday.

The company said it expects U.S. President Barack Obama's stimulus package will aid its U.S. education business, but is not relying on it due to uncertainties over how much it will help.

Pearson said it was "planning for weak conditions in the U.S. school publishing market, but expect continued growth in our testing, higher education and international education businesses."

"We don't expect economic conditions to improve any time soon, but we do expect our company to remain hardy and aggressive," said Chief Executive Dame Marjorie Scardino, according to the Financial Times.

According to a statement from Pearson, growth in its digital businesses compensated for a plateau in print growth. Pearson's performance has motivated the board to increase annual dividends by 7 percent to 33.8p

Scardino said that Pearson was at an advantage considering that it derives only 25 percent of its revenues from advertising.

Author

Leah McBride Mensching

Date

2009-03-02 18:29

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