Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Wiley to Divest Selected Publishing Assets

03/07/2012 | 03:05pm US/Eastern

Strategic realignment of resources will address marketplace changes, accelerate Wiley's digital transformation, and drive long-term growth

John Wiley & Sons, Inc. (NYSE: JWa, JWb), today announced it has retained Allen & Company LLC to explore the sale of a number of consumer print and digital publishing assets in its Professional/Trade business that no longer align with the company's long-term strategies. The assets are in travel (including the well-known Frommer's brand), culinary, general interest, nautical, pets, crafts, Webster's New World, and CliffsNotes.

The planned divestiture follows a strategic review of the company's Professional/Trade business portfolio. Our strategic focus will center on those opportunities that meet strong global demand for high-quality information for professionals and lifelong learning enabled by new technology.

"We plan to drive long-term growth, accelerate our digital transformation, and optimize our return on investment by investing in content and services that provide our customers in research, learning and professional practice with knowledge resources that help them to realize their professional and personal goals," said Stephen M. Smith, Wiley's President and Chief Executive Officer. "As a result, Wiley will re-deploy resources in its Professional/Trade business to build on its global market-leading positions in business, finance, accounting, leadership, technology, architecture, psychology, education, and through the For Dummies brand."

In Wiley's fiscal year ending April 30, 2011, the publishing assets offered for sale generated approximately $85 million of revenue. "These renowned programs, which produce print books, e-books, and online products and services under highly recognizable global brands, have contributed greatly to Wiley's success. I am confident that they will continue to generate significant benefits for new owners providing the focused commitment needed to achieve their full strategic potential," Mr. Smith noted.

No categories from the Company's global Scientific, Technical, Medical, and Scholarly and Global Education operating units will be included in this planned sale.

About Wiley

Founded in 1807, John Wiley & Sons, Inc., has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Wiley and its acquired companies have published the works of more than 450 Nobel laureates in all categories: Literature, Economics, Physiology/Medicine, Physics, Chemistry and Peace.

Wiley's core businesses include scientific, technical, medical, and scholarly (STMS) journals, encyclopedias, books and online products and services; professional/trade books, subscription products, training materials, online applications and Web sites; and educational materials for undergraduate and graduate students and lifelong learners. Wiley's global headquarters are located in Hoboken, N.J., with operations in the U.S., Europe, Asia, Canada and Australia. The company's Web site can be accessed at www.wiley.com. The company is listed on the New York Stock Exchange under the symbols JWa and JWb.

Media:
Wiley
Susan Spilka, 201-748-6147
sspilka@wiley.com
or
Investors:
Wiley
Brian Campbell, 201-748-6874
bcampbel@wiley.com


© Business Wire 2012
React to this article
Latest news
Date Title
08:35p MATSUDA SANGYO : Results of Share Buyback
08:35p MATSUDA SANGYO : FY3/16 1Q Consolidated Financial Statements
08:35p PACIFIC ANDES : Announcements and Notices - Resignation of Non-executive Director, Cessation of Alternate Director and Changes of the Composition of the Board and Committees of China Fishery Group Limited
08:35p AUSTRAL GOLD : 31 August 2015 - Proposal to Acquire Argentex Mining Corporation
08:34p TEXAS ROADHOUSE : BRIEF: Re-enactor's guns, ammo stolen after Old Cowtown event
08:32p MARRIOTT : Stonington PZC to look at food truck regulations
08:31p ADVISORSHARES : Announces Adjusted NAV for One Exchange-Traded Fund
08:30p CARDNO : Innovations in Asset Management in the spotlight
08:26p HONDA MOTOR : Acura Transmissions Now Part of Second Hand Inventory at PreownedTransmissions.com
08:25p BOOM LOGISTICS : Change in Substantial Holdings – 25/08/15
Latest news
Advertisement
Hot News 
OPPORTUNITY INVEST MGMT : 28 augustus 2015 - PRESS RELEASE: Announcement OIM 28 August 2015
MOLYCORP : Massive Mojave mine Molycorp to close, taking nearly 500 jobs
CHALLENGER ACQUISITIONS : Says It Is Focused On Integrating Starneth
MAVEN INCOME & GROWTH VCT : 4 Net Asset Value Total Return Rises
EUROCONSULT : 1,400 Satellites Projected to Launch Over Next Decade
Most Read News
07:02p Politicians welcome Berri's call for dialogue
06:05p DATACENTRIX : Forward-thinking Western Cape government wins OpenText "Big Think" award
07:01p Tezzaron Announces World’s First Eight-Layer Active Wafer Stack
07:20p GOLDEN MEDITECH : Notice of extraordinary general meeting
07:20p GOLDEN MEDITECH : Despatch of circular in relation to (i) proposed open offer on the basis of one offer share for every two shares held on the record date and (ii) application for whitewash waiver and (iii) notice of extraordinary general meeting
Most recommended articles
08:07pDJLawyer's Offstage Acts Threaten Record Pact
07:35p USDJPY-Just a Dip or Important Reversal?
07:30p Slowing economy hits earnings at top Chinese machinery makers
07:11p World to Fed - We're prepared for U.S. rate hike, so don't delay
07:00p USD/CHF TECHNICAL ANALYSIS : 3-Day Win Streak Broken