The Software and Information Industry Association Executive FaceTime series continues, as show host Hal Espo, President of Contextual Connections, LLC, sits down with Pat Tierney, CEO of Harcourt Education.
In may of 2007, Reed Elsevier completed a sale of the international and the assessment businesses of Harcourt Education to Pearson, PLC for $950 million.
The balance of the business is still for sale, in an auction process. Pat Tierney is overseeing the divestiture. Why sell the education business? Harcourt did a major strategic review last fall to determine what types of businesses Reed should be in going forward.
Reed Elsevier is currently divesting certain business units, such as Harcourt Education that do not have stability of earnings cash flow over time, or a percentage of revenue from electronic. Recurring subscription revenue from electronic is not happening in the education division in the same way as, for example, the scientific division.
Pat and Hal do a cover a variety of topics, including electronic versus print publishing, opportunities for publishers going forward, innovation, distribution, the future of Reed Elsevier, and, of course, Rupert Murdoch and the Wall Street Journal.
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