Pearson for sale as well?
March 26, 2007
Odd – UK Times Online says Pearson’s for sale to a private equity firm:
Pearson shares reached their highest level for five years yesterday, as hopes of a takeover of the media conglomerate rose after a rival educational publisher was sold for more than expected.
The “rival publisher” was Wolters Kluwer’s European education busines, which was bought by Bridgepoint. The article continues:
Pearson, which owns the world’s biggest education business as well as the Financial Times, declined to comment yesterday, although the company is understood not to have received any bid approaches.
However, one source close to the company said: “As private equity gets more comfortable with education assets, it becomes possible that they would be willing to approach the whole group.â€
http://business.timesonline.co.uk/tol/business/industry_sectors/media/article1560896.eceÂ
Strange that private equity firms would be so interested in publishers. To be honest I’m still a bit fuzzy on what exactly a private equity firm does, other than buy companies and flip them for a profit.
Also interesting (and unfortunate) to see that even educational materials (textbooks, multimedia, etc) are being seen as an investment in someone’s portfolio, rather than a resource that can actaully benefit someone’s life.




