Pearson sells Economist Group stake for £469m
Existing shareholder Exor increases its holding from 4.7% to 43.4% to become the largest single shareholder in the publishing groupPearson has sold its 50% stake in the Economist Group, publisher of...
View ArticleThe Economist becomes a family affair
Italy’s Agnellis are the latest wealthy dynasty – in the wake of the Murdochs, the Barclays and the Sulzbergers – to take control of a global media brandRupert Pennant-Rea sat pensively in the 14th...
View ArticleWhy did wealthy families pay over the odds for the Economist?
The eye-popping sum paid by the Agnellis and Rothschilds shows how much the rich value high-quality private assets that will make long-term profitsNo self-respecting brand manager would ever name a...
View ArticlePearson shares slide after profits warning
Education publisher, which is in the process of selling off the Financial Times, blames ‘challenging’ market as it suffers biggest share price fall since 1987Pearson suffered its biggest share slump in...
View ArticlePearson appoints Sidney Taurel as chairman
Former chief executive of pharmaceutical giant Eli Lilly to take over from Glen Moreno at global education companyPearson has appointed Sidney Taurel, the former chief executive of pharmaceutical giant...
View ArticlePearson and Dow Jones sell stakes in Russian newspaper Vedomosti
Sale marks end of an era for former FT owner as it exits newspaper publishing business after selling its stake to Russian entrepreneur Pearson, which recently agreed to offload the Financial Times, and...
View ArticlePearson to cut 4,000 jobs after second profit warning in three months
World’s biggest education publisher aims to make £350m in cost savings by the end of 2017Pearson is to cut 4,000 jobs after issuing its second profit warning in three months. The world’s biggest...
View ArticleEconomist editor: ‘We don’t want to be the grandpa at the disco’
Zanny Minton Beddoes on new owners, battling Brexit, and making a 173-year-old title work onlineZanny Minton Beddoes’ office may have a worn and old-fashioned feel, indeed it wouldn’t be surprising if...
View ArticleThe Economist to take up a new riverside home
Magazine plans to move next summer to a London headquarters, overlooking the Thames, that meets ‘the needs of a 21st century media company’The Economist has chosen its new home. It is to move next year...
View ArticlePearson shares tumble 10% as sales slide
Challenging trading conditions continue to knock world’s largest educational publisherThe full extent of the difficulties Pearson is facing following the sale of the Financial Times to focus on...
View ArticleBooks world uneasy as Pearson to sell stake in Penguin Random House
Management have moved to reassure staff and writers that selling the 47% holding will not affect business, but authors and agents express uneaseAuthors and staff have reacted cautiously to news that...
View ArticleEducation publisher Pearson reports biggest loss in its history
Pre-tax losses soar to £2.6bn as group – planning to sell its Penguin Random House stake – is hit by slump in US textbook salesPearson has reported a pre-tax loss of £2.6bn for 2016, the biggest in its...
View ArticlePearson shareholders reject chief executive's £1.5m pay package
Investors’ revolt against deal for John Fallon comes after educational publisher reports largest annual loss in its historyMore than six out of 10 Pearson shareholders have voted against the £1.5m pay...
View ArticleExam board makes last-minute changes to two A-level papers after leak
Further pure maths and statistics tests affected as police open criminal investigation into claims relating to other exams this summerAn examination board investigating allegations of leaks has been...
View ArticlePearson sells slice of Penguin for $1bn
The beleaguered FTSE 100 firm strengthens balance sheet by selling a 22% stake to Bertelsmann in deal valuing the publishing giant at $3.55bn Pearson has sold a 22% stake in Penguin Random House, the...
View ArticlePearson picks up $1bn from Penguin – but no treat for investors | Nils Pratley
The education business sold nearly half its stake in the publisher to Bertelsmann, but much of the proceeds will be reinvestedPearson is still going to own a quarter of Penguin Random House, so it’s...
View ArticlePearson to axe 3,000 jobs after slump at main US business
Cost-cutting move aims to save educational publisher about £300m a year with 10% cut in global staff after biggest loss in history in 2016Pearson is to cut 3,000 jobs as the embattled company looks to...
View ArticleA-level maths paper leaked online before exam
Exam board Edexcel launches investigation after Twitter post offers full paper for £70An investigation has been launched after an A-level maths paper was circulated online before the exam.Images of the...
View ArticlePearson shifts to Netflix-style subscription model for textbooks
Academic publisher hopes to convince students to pay to access online materialsThe era of students using their loans to buy expensive textbooks upfront could be coming to an end, after the academic...
View ArticleGrant Shapps’ response to P&O Ferries won’t get its sacked workers their jobs...
New powers will block ferries that pay crews below minimum wage from UK ports, which P&O will probably find acceptableGrant Shapps sounded terribly pleased with his nine-point response to the...
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