Pearson plc, the international media group, is to put a number of its reference and business & professional publishing operations up for sale. The businesses are Jossey-Bass; the General and Library Reference businesses of Macmillan publishing; Master Data Center; Prentice Hall Direct; Appleton & Lange; and the Bureau of Business Practice.
In 1997, these businesses made, in total, sales of some $250 million. They were acquired by Pearson last November as part of its $4.6 billion dollar acquisition of the Simon & Schuster education, reference and business & professional operations. Pearson has merged the Simon & Schuster education businesses with Addison Wesley Longman to create Pearson Education, the world's leading educational publishing business. Macmillan Computer Publishing and Macmillan Digital Publishing also form part of the new Pearson Education business.
The businesses that Pearson has put up for sale were to have formed part of the proposed sale to Hicks, Muse, Tate & Furst, the US private equity firm, which Pearson announced in November would not go ahead. They are:
Appleton & Lange, which publishes medical texts, periodicals, software and custom education products for the academic, clinical and consumer marketplace.
Jossey-Bass, which publishes books, periodicals and on-line products on key topics in management of businesses and not-for-profit institutions as well as education, healthcare, psychology and other professional topics.
Macmillan General Reference, which publishes a full range of reference titles, from travel guides and language books to dictionaries and test preparation materials.
Macmillan Library Reference, which sells premium-priced quality reference materials to libraries and higher education institutions.
Master Data Center, which provides payment services for the owners of intellectual property.
Prentice Hall Direct, which , primarily through direct mail, sells books on improving performance in business, educational and personal settings.
The Bureau of Business Practice, which publishes newsletters, manuals and special reports on business management topics for professional managers.
The New York Institute of Finance (NYIF) is to become part of Pearson plc's newly created Management Education business.
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