Meanwhile, back in Pearson's counting room.The Wall Street Journal (8/3/99) reports: "Pearson PLC, a British publishing and television company, announced a 38% drop in pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern profit for the first six months, citing restructuring charges restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. involved with last year's $4.8 billion acquisition of the Simon & Schuster Simon & Schuster U.S. publishing company. It was founded in 1924 by Richard L. Simon (1899–1960) and M. Lincoln Schuster (1897–1970), whose initial project, the original crossword-puzzle book, was a best-seller. consumer publishing house. "The publisher of the Financial Times newspaper, the Economist, Penguin Group books and a number of textbook titles reported pretax profit of [pounds]55 million ($89.2 million) for the half, down from [pounds]89 million in the year-earlier period." Among Pearson's reported disposals totaling [pounds]2.5 billion in the past 21/2 years were the sales of these newsletter properties: * Capitol Publications to Wolters Kluwer Wolters Kluwer N.V. (Euronext: WKL) is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. and others, * Financial Times Law & Tax and Federal Publications to the West Group, * FT Finance to BNA BNA Bureau of National Affairs, Inc. BNA Birds of North America BNA block numbering area (US Census) BNA British North America BNA Banco Nacional de Angola (National Bank of Angola) International, and * Bureau of Business Practice to Wolters Kluwer. |
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