Tue, 17/02/2009 - 05:21
UK publisher Reed Elsevier has agreed a new $2bn credit facility with 19 banks. The facility commences in May 2010 and matures in May 2012.
The group said its existing revolving credit facility, which matures in May 2010, has been simultaneously reduced in size to $2.5bn from $3bn.
According to CNN Reed Elsevier securing this new...
Mon, 02/02/2009 - 07:03
Boston institution Houghton Mifflin Harcourt faces an uncertain future as textbook sales dry up and its owner reels under heavy debt, reports the Boston Globe. The two big credit rating services, Moody's Investor Services and Standard & Poor's, recently slashed the rating of O'Callaghan's company, Education Media &...
Wed, 10/12/2008 - 07:28
Global STM publisher John Wiley & Sons has defied the deteriorating economic climate to grow revenues by 33% to more than $1.6bn (£1.08bn) over the year to end-April 2008, largely thanks to its 2007 acquisition of Oxford-based Blackwell Publishing.
Excluding the acquisition, the firm still managed to grow revenue by 5%, before...
Thu, 13/11/2008 - 05:18
Reed Elsevier has reaffirmed that it is on track to deliver on its goals this year of "good revenue growth, meaningful margin improvement and strong growth in adjusted earnings per share".
Sir Crispin Davis, chief executive officer, said: “The business is on track for a very successful year and we expect to deliver Reed...
Thu, 18/09/2008 - 06:49
Oxford University Press has shrugged off the effects of the credit crunch to report healthy growth in the 2007/08 financial year, reducing its pension deficit and building its net assets by £62m to £238.1m.
Turnover rose from £453m to £492m, generating a net profit of £77.2m, up from £71.1m the...
Wed, 10/09/2008 - 06:25
John Wiley & Sons has reported revenue of $402m for the first quarter of fiscal year 2009 ended 31st July, a 3% increase over the same period of fiscal year 2008, or 2% excluding favourable foreign exchange rates. Operating income was $44m, down 5% on the result a year earlier; net pretax income, however, rose by 21% to $36m.
Mon, 08/09/2008 - 06:35
The European Commission has responded to growing demand in the science community for unfettered access to research by launching a pilot project to make European Union (EU)-funded research in seven key subject areas available free of charge on the Internet.
According to the Commission, the move should help the EU step up its use of the...
Mon, 28/07/2008 - 07:52
Informa's academic and scientific business saw sales growth of 20% and profit growth of almost 30% in its half year to 30th June. The publishing growth at Taylor & Francis helped parent Informa record revenue growth of 18% on last year, with sales totaling £627.6m. Adjusted operating profit grew from £116m to £140m, an...
Thu, 24/07/2008 - 11:42
"To be honest," Roger Horton says, "it used to irritate me greatly." The Taylor & Francis (T&F) chief executive is talking about how academic publishing is often ignored in the press in favour of the "sexier" trade side. It should be emphasised he said "used to". We are sitting in his Milton Park...
Mon, 14/07/2008 - 07:38
Reed Elsevier, the Anglo-Dutch publisher, has started its search for a successor to long-serving chief executive Sir Crispin Davis, who is likely to retire next year, reports the Telegraph. No firm date has yet been set for Davis' retirement, although it is expected to happen around the middle of next year.
Reed declined to give any...