Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Wiley to Divest Selected Publishing Assets

03/07/2012 | 04:05pm 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
Latest news
Date Title
7m ago GAZPROM : & Poland Discuss of Cooperation in the Gas Sector
8m ago CISCO SYSTEMS : Request of offers for replacing, supply & erection of Cisco branded switches, routers and IP Phone. Documents to pick up as of 10/26/2014
8m ago WD 40 : Supply of (a) UPS units of 1 & 1.5 KVA capacity, also of UPS batteries, (b) acidic batteries 70 Amp., 12 volt & WD 40 cleaning packs, (c)...
22m ago Pellegrini says Man City will continue fighting for PL title post 2-1 West Ham loss
22m ago GULF SERVICES : Weekly Market Report
22m ago Lady Gaga's 'private' shopping made Man U's Angel Di Maria leave top shop
22m ago ITEC : India offers training on sustainable development programmes to Afghans
22m ago AHLI UNITED BANK : ratings affirmed by Capital Intelligence
23m ago MONEYGRAM : Ooredoo Mobile Money customers can send money directly to M-Pesa Wallets in Kenya
28m ago HALLIBURTON : Our View: We need to embrace foreign investment not put obstacles in its path
Latest news
Advertisement
Hot News 
DIGITAL RIVER : Announces Agreement to be Acquired by Investor Group Led by Siris Capital Group for $26.00 per Share in Cash
EDREAMS ODIGEO : Statement responding to BA and Iberia statement
4IMPRINT : Full Year Expectations Underpinned By Strong Third Quarter
ATLANTIS RESOURCES : Raises GBP5.0 Million In Discounted Placing (ALLISS)
MERIT MEDICAL SYSTEMS : posts 3Q profit
Most Read News
1d ago CHINA MOBILE : Alibaba to form JV for messaging platform
1d ago MEREDITH : Fiscal 2015 First Quarter Earnings Grow Over 20 Percent
4h ago MICROSOFT : NICE Trading Recording Solution Receives Microsoft Lync Qualification
1d ago TESCO : Half Yearly Report
1d ago AVALONBAY COMMUNITIES : Construction underway for North Station apartments
Most recommended articles
2h ago Panasonic says to transfer Sanyo TV unit in U.S. to Funai Electric
1d agoDJAustralia Says Investor Visa Changes Will Better Combat Corruption
1d ago ECB faces test of its own as Europe braces for landmark banking review
1d agoDJHow to Find a Missing Tax Refund
1d agoDJFinal Polls Before Brazil Presidential Election Give Edge to Rousseff
Dynamic quotes  
ON
| OFF