From the PW Report:
Pearson maintained its place as the world’s largest book publisher in 2015, but that doesn’t mean the U.K.-based company didn’t face its share of challenges. The company began a major restructuring effort in the year that included the sale of the Financial Times and its stake in theEconomist. Pearson also announced in January 2016 that it will cut about 4,000 jobs from its worldwide educational publishing operation, in an attempt to “create a single global product organization.” Pearson embarked on the overhaul to adapt to changes in the educational marketplace. Those changes were a major factor in total revenue at the company falling from over $7 billion in 2014 to $6.6 billion last year.
The largest U.S-based publisher on the 2015 list is McGraw-Hill Education, which is undergoing its own financial repositioning. When the company was taken private by Apollo Global Management in 2013, the new owners divided the K–12 business from the higher education/professional/international businesses for reporting purposes, and the K–12 financials were not always publicly available. But in 2016, as it prepares for a public offering, Apollo has released a proxy statement that includes both companies. The new filing shows that MHE had a small decline in revenue in 2015, but it remained the world’s ninth largest publisher.
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