Key Developments: Pearson PLC (PSO)
19.16USD
21 May 2013
$0.51 (+2.73%)
$18.30
$18.96
$19.19
$18.85
312,055
480,845
$20.48
$17.08
Latest Key Developments (Source: Significant Developments)
Pearson PLC Buys Educomp Solutions Ltd's Stake In JV-DJ
Dow Jones reported that Pearson PLC has bought Educomp Solutions Ltd's stake in their equally owned Indian joint venture (JV). Pearson and Educomp, which separately said it has exited the venture, didn't provide any financial terms. Pearson and the Indian educational-content and software maker formed the joint venture, IndiaCan Education Pvt. Ltd., in 2009 to offer vocational training. Full Article
Pearson PLC Issues FY 2013 Earnings Guidance In Line With Analysts' Estimates; Comments On FY 2013 Revenue Guidance-Conference Call
Pearson PLC announced that for fiscal 2013, it expect operating profits and adjusted EPS to be broadly level with 2012 before expensing these restructuring costs (compared to 2012 adjusted EPS of 82.6p under revised IAS 19 which we will adopt in 2013) and including Penguin for the full year. The Company also announced that it expects to achieve modest revenue growth for fiscal 2013. The Company reported Operating Profit of $1.211 billion and EPS of $1.34 in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report Operating Profit of $1.382 billion and EPS of $1.15 for fiscal 2013. Full Article
Pearson PLC Proposes Final Dividend
Pearson PLC announced that the Board of Director has proposed a final dividend of 30.0 pence per equity share (2011: 28.0 pence) , payable on May 03, 2013 to shareholders on the register at the close of business on April 05, 2013. Full Article
Pearson PLC Issues FY 2012 Guidance; EBIT Guidance Below Analysts' Estimates
Pearson PLC announced that for fiscal 2012, it expects to report good revenue growth at constant exchange rates, operating profit of approximately GBP935 million (broadly level at CER), adjusted earnings of approximately GBP0.84 per share and cash conversion of close to 90%. The fiscal 2012 results will reflect the absence of a profit contribution from FTSE International (GBP20 million of operating profit and GBP0.022 of EPS in 2011) and the impact of the radically-changed trading environment for Pearson in Practice, which led to the recent decision to plan to exit that business. According to I/B/E/S Estimates, analysts were expecting the Company to report EBIT of GBP944 million and EPS of GBP0.84 for fiscal 2012. Full Article
US Reaches e-books Settlement With Pearson PLC's Penguin Group
Reuters reported that The U.S. Justice Department said that it has reached a settlement with Pearson PLC's Penguin Group in the government's investigation of alleged price-setting in the e-book market. Under the terms of the settlement announced on Tuesday, Penguin will drop any agreements with Apple and other ebook sellers that prevents price discounting. It will not be allowed to reinstate the deals for two years. The settlement terms were similar to ones that the Justice Department reached with the other three publishers in April. Full Article
Pearson PLC's CFO Says No Plans To Sell FT-Reuters
Reuters reported that Pearson PLC does not have any plans to sell the Financial Times or a stake in a business being formed from a merger of its Penguin Books unit with Bertelsmann's Random House. Pearson then announced later in October it and Bertelsmann were to form the book publisher to better cope with retailers such as Amazon and Apple. Under the agreement, Pearson said it could sell its stake to Bertelsmann after three years. If Bertelsmann declined to buy, the joint venture could raise debt to pay both sides a dividend. Either side can require a stock market listing after five years. Full Article
Pearson PLC And Bertelsmann AG Announce Consumer Publishing Partnership
Pearson PLC and Bertelsmann AG announced that an agreement to create consumer publishing organisation by combining Penguin and Random House. The combination brings together two English language publishers, with complementary skills and strengths. Under the terms of the agreement, Penguin and Random House will combine their businesses in a newly-created joint venture named Penguin Random House. Bertelsmann will own 53% of the joint venture and Pearson will own 47%. The joint venture will exclude Bertelsmann's trade publishing business in Germany and Pearson will retain rights to use the Penguin brand in education markets worldwide. Full Article
News Corp Eyes Cash Bid For Pearson PLC's Penguin Group-Reuters
Reuters reported that News Corp has indicated it will make a substantial cash offer for media conglomerate Pearson PLC's Penguin Group, joining the race for the book publisher, the Sunday Times reported. In an unsourced report, the paper said the bid could total around GBP1 billion ($1.6 billion) and could scupper plans to tie Penguin with Random House, owned by Germany's Bertelsmann. Full Article
Pearson PLC Acquires EmbanetCompass
Pearson PLC announced the acquisition of EmbanetCompass from an investor group led by Technology Crossover Ventures and Knowledge Universe, for $650 million in cash. Full Article
Google Inc Settles With The McGraw-Hill Companies, Inc., Pearson PLC And Other Publishers Over Digital Books-Reuters
Reuters reported that Google Inc and a group of publishers have agreed to a settlement over making digital copies of books. Google and the Association of American Publishers (AAP) said on Thursday that U.S. publishers can decide whether they want their books made available through Google or not. Google Books allows users to browse up to 20% of the books in its library and then purchase digital versions through Google Play. Publishers get a percentage of any sale. Google has spent years scanning some 20 million books in partnership with major libraries around the world, including the New York Public Library and Stanford University Libraries. This angered publishers and authors who contended that Google violated copyright laws when it failed to seek their permission. Google was sued in 2005 by the Authors Guild and the Association of American Publishers for violating copyright laws. In 2008, they reached a settlement in which Google agreed to pay $125 million to people whose copyrighted books had been scanned, and to locate and share revenue with the authors who have yet to come forward. But the Justice Department, and other critics, said the deal was illegal. A federal court agreed, and rejected it. The lawsuit was filed by AAP members The McGraw-Hill Companies, Inc., Pearson PLC's Pearson Education Inc and its sister Penguin Group USA, John Wiley & Sons, Inc. and CBS Corporation's Simon & Schuster. Full Article
Pearson apologizes for student testing error in New York
- British education and media publisher Pearson Plc apologized for miscalculating the ages of almost 5,000 students, who took exams to qualify for New York City's "gifted and talented" school program last month.
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