Finance

Press Release: Amazon.com Announces First Quarter Sales up 28% to $29.1 Billion
May 2, 2016 at 12:17 pm

SEATTLE — April 28, 2016 — Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its first quarter ended March 31, 2016. Operating cash flow increased 44% to $11.3 billion for the trailing twelve months, compared with $7.8 billion for the trailing twelve months ended March 31, 2015. Free cash flow increased to $6.4 billion for the trailing…

Bertelsmann Plans to Raise Stake in Penguin Random House
March 25, 2016 at 8:30 am

Bertelsmann has reported a 4.7% rise in full-year core profit and reiterated its plan to raise its stake in Penguin Random House, the book publisher which helped to drive the earnings increase. The German media group controls RTL entertainment company and owns about half of Penguin Random House, publisher of bestselling authors such as John…

PRH Drives Revenue Growth at Bertelsmann
March 22, 2016 at 2:42 pm

Today Bertelsmann, the majority stakeholder in Penguin Random House, reported that its total revenue grew 2.8% to €17.1 billion or about $19.2 billion in 2015. The company reported that PRH played a significant role in that growth, increasing its revenue by 11.8%. That increase is significant, especially in light or recent reports from the AAP…

HarperCollins UK Profits Tripled in Financial Year 2014-15
February 2, 2016 at 11:02 am

HarperCollins UK's profits tripled year-on-year in the 12 months to end June 2015, accounts newly filed at Companies House have revealed. Revenues were shown to grow by £6.6m to £186m and profit before tax by £8.9m to £13.1m (£4.2m in 2014). This is the first time these figures have been published as parent company News Corp…

McGraw-Hill Education Files for An IPO
September 10, 2015 at 4:58 pm

It was reported today that education content maker McGraw-Hill Education is planning to go public. The company best known as a publisher of textbooks and instructional materials, it is reported that the company is investing heavily in developing digital content technology like its “Reading Wonders” and “Economics: Principles and Problems” programs. According to regulatory filings…

Bertelsmann Open to Increasing Stake in Penguin Random House
August 31, 2015 at 2:33 pm

FRANKFURT, Aug 31 (Reuters) - German media Group Bertelsmann will consider raising its stake in book publisher Penguin Random House, it said on Monday, now that shares in the joint venture with Pearson could come on the market. Privately held Bertelsmann controls 53 percent of the publisher of bestsellers such as the Fifty Shades series…

CEO David Steinberger Says Perseus Had a Record-Breaking Year
August 19, 2015 at 7:21 pm

In a letter to employees sent August 18th, Perseus Books Group CEO David Steinberger wrote that the publisher and its client publishers achieved the highest number of book sales in the company's history. The lengthy letter delves into each month of Perseus' fiscal year, which ended on June 30th, and highlights some of the major acquisitions and bestsellers that propelled Perseus to record-breaking heights.

HarperCollins Reports Growth for 2015, Thanks to Harlequin Acquisition
August 13, 2015 at 6:12 pm

News Corp closed out a strong year, according to its latest financial report, and it credits some of that success to growth at HarperCollins. But a deeper look at the numbers, courtesy of The Bookseller’s Lisa Campbell and The Digital Reader’s Nate Hoffelder, reveal that without the acquisition of Harlequin, the Big Five publisher’s revenue…

News Corp. All Set With Watchman
July 13, 2015

News Corp. executives are as pumped as the most die-hard Harper Lee fans for the release at midnight of Go Set a Watchman, the reclusive 89-year-old author's long-shrouded sequel to her landmark 1960 breakthrough and only published novel, To Kill a Mockingbird.

The global media conglomerate controlled by Rupert Murdoch owns HarperCollins, Watchman's publisher, which stands to make a good buck from sales of the preternaturally anticipated book.

As News Corp's legacy newspaper division has struggled over the past few years due to the industry-wide decline in print advertising revenues, the company has benefited from smaller segments where growth