Publishing: Wiley to Divest Selected Publishing Assets, No STM Units Will Be Included in Planned Sale
John Wiley & Sons Inc., publisher of the For Dummies brand, said it has retained adviser Allen & Co. to explore the sale of some of its publishing assets in its professional/trade business and said it will redeploy its resources to For Dummies.
“We plan to drive long-term growth, accelerate our digital transformation, and optimize our return on investment by investing in content and services that provide our customers in research, learning and professional practice with knowledge resources that help them to realize their professional and personal goals,” Chief Executive Stephen M. Smith said.
From a Wiley News Release:
In Wiley’s fiscal year ending April 30, 2011, the publishing assets offered for sale generated approximately $85 million of revenue. “These renowned programs, which produce print books, e-books, and online products and services under highly recognizable global brands, have contributed greatly to Wiley’s success. I am confident that they will continue to generate significant benefits for new owners providing the focused commitment needed to achieve their full strategic potential,” Mr. Smith noted.
No categories from the Company’s global Scientific, Technical, Medical, and Scholarly and Global Education operating units will be included in this planned sale.
About Gary Price
Gary Price (email@example.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. He earned his MLIS degree from Wayne State University in Detroit. Price has won several awards including the SLA Innovations in Technology Award and Alumnus of the Year from the Wayne St. University Library and Information Science Program. From 2006-2009 he was Director of Online Information Services at Ask.com.