News

« Headlines

Blackwell drives Wiley

12.03.08 Philip Jones

The acquisition of Blackwell Publishing one year ago has continued to drive Wiley's financial performance, according to results put out by the parent. John Wiley & Sons reported that revenue for the third quarter and nine months of fiscal year 2008 advanced 45% to $429m and 47% to $1.2bn, respectively.

Blackwell Publishing contributed revenue of $115m in the quarter and $347m in the year-to-date period.  Excluding Blackwell, revenue for both the third quarter and nine months increased 6% over prior year. Excluding Blackwell and the favourable effect of foreign exchange, revenue in the third quarter and nine months increased over prior year by 3% and 4%, respectively.

"Wiley’s top-line growth continues to be driven primarily by the acquisition of Blackwell," said said William J Pesce, Wiley’s president & c.e.o. "We have made significant progress with the integration. Book distribution and customer service have been fully integrated into Wiley’s operations in the US, Canada, Europe, Asia and Australia. Journal production is being transferred in phases to Blackwell’s operations in Singapore.  Finance has been consolidated in the US and the UK. We are implementing our plan to launch a new online platform to replace Wiley InterScience and Blackwell’s Synergy."

Financial International US Philip Jones stm John Wiley Blackwell Publishing

See Also