Pearson buys Vanity Press Conglomerate Author Solutions for $116M
In case you haven’t heard, it’s official:
“LONDON–Pearson PLC , a provider of education and consumer publishing services, said Thursday it acquired Author Solutions Inc from Bertram Capital for 116 million dollars in cash, adding that it expects the acquisition to enhance adjusted earnings per share in its first full year.”
So I’m getting asked on a number of fronts what I think about Bertram Capital selling Author Solutions to Pearson, another publisher with ties to Indianapolis. I think the people of Bertram Capital are probably relieved to have that monkey off their back.
I think Pearson has a lot of housecleaning to do, but it’s like an employee says, “Everyone thinks it will be better. Unless they change the leadership, I don’t see how.”
More in the works. Stay tuned.
UPDATE 1:14 PM EDT: After reaching out to Pearson, my inquiry was forwarded to a media relations representative for Penguin Books. (If you’re confused, Penguin is owned by Pearson. Or Penguin is to Pearson as iUniverse is to Author Solutions. Sort of.) Whether or not my questions will be addressed by the company remains to be seen.