Feeds

Pearson snaps up one-time multimedia star Dorling Kindersley

£311m buys troubled Web content, Star Wars book purveyor

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

UK media conglomerate Pearson, owner of Penguin Books, the Econmist and the Financial Times, has agreed to buy troubled publisher Dorling Kindersley for $311 million. The acquisition is a straightforward cash deal, with Pearson offering 430 pence for each DK share. That's four per cent more than yesterday's closing price of 413.5 pence. DK's shares have been rising since 26 January, when the company said it was looking for a buyer. That announcement came a week after it issued a profit warning. At one point, free ISP Freeserve was seen as the likely buyer, with its eye on DK's Web content. DK's finances were hit hard after a lucrative Star Wars: Episode One publishing contract proved... well... not very lucrative. Sales of merchandising - at least in the book business - came nowhere near their anticipated levels, leaving DK with a Death Star-sized pile of unsold items. The company's ill-fated attempts to extend its success in the mid-90s CD-ROM arena into the late-90s Internet world, didn't help much either. In total, the company lost $23.8 million in the six months to 31 December 1999 - the year before it was in profit, to the tune of £3.1 million - despite an increase in sales, much of it before last June's release of Episode One, we suspect. The Pearson takeover is expected to take place within six weeks' time, and will see the departure of founder Peter Kindersley as a company executive. Pearson hasn't said what it plans to do with DK, but as an aggressive pursuer of Internet business, it's likely to beef up DK's own Web and multimedia operation. ® For more UK Internet financial news, visit Cash Register

Secure remote control for conventional and virtual desktops

More from The Register

next story
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.