Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Wiley to Divest Selected Publishing Assets

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/07/2012 | 09:05pm CEST

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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
06:47p CITIGROUP : What's the price tag for ignoring climate change?
06:46p EMIRATES NBD BANK : De-risking takes toll on GCC institutions’ access to global banking system
06:46p Fawad Khan brings wife’s fashion line to Dubai
06:46p STANDARD CHARTERED : takes a fresh look at business units and portfolios
06:46p STANDARD CHARTERED : Middle East Africa key in future growth plans for Standard Chartered
06:46p STANDARD CHARTERED : Turnaround strategy gains traction at Standard Chartered
06:46p MICROSOFT : Emirates Talent Association awards Emirati Programmer certificates to 99 youths
06:39p ALPHABET : Bomb threat suspect used Bitcoin, Google Voice
06:39p BP : announces third gas find in North Damietta concession area
06:36p FINANCIAL : David Lively, GRAND BANK
Latest news
Advertisement
Hot News 
9.35%Infineon raises 2017 outlook on stronger automotive orders
2.89%British engineer Smiths posts higher first-half profit, reaffirms FY outlook
-1.59%ANTHEM : Grilled as It Seeks to Save Cigna Deal
3.07%EXCLUSIVE - CHINA-BACKED FUND RELAUNCHES BID FOR U.S. CHIP DEAL APPROVAL : sources
7.57%TOSHIBA : shares rise 6 percent after Effissimo increases stake
Most Read News
03/25DJOM ASSET MANAGEMENT : Chinese Conglomerate HNA to Buy Stake in U.S. Asset Manager
03/25 WAL MART STORES : Ash Road and Old U.S. 20 intersection set for long summer of construction
03/25 SKANSKA : The latest tactic for Virginia's governor against the hated tunnel tolls? Public shaming.
12:16a NETDIMENSIONS : Intention to delist
02:08a TESCO : nearing deal with Serious Fraud Office over accounting scandal - Sky
Most recommended articles
03/21 UK to investigate any UK banking involvement in 'Laundromat' case
12:20p Brazil's Andrade Gutierrez tries to sell Cemig, other stakes - report
12:12p CHINA SOUTHERN AIRLINES : in talks over American Airlines cooperation deal
11:54aDJMARKET SNAPSHOT : Stock Market Faces Crucial Test As Trump Suffers Setback
09:55a BP : makes third gas discovery in Egypt's North Damietta Concession