InnerWorkings Stockholders Approve Merger With HH Global

Enthusiast magazines Rock and Ice and Climbing, which have been rivals for 36 years, are now one entity. The future merger was announced when Big Stone Publishing was acquired by Pocket Outdoor Media in October 2020. The new combined publication, called Climbing, debuts this spring — but it will be written by the editorial staffs of both magazines. To date, there has been no mention of staff reductions. The future Climbing will include art makeovers and upgrades, as well as more content and higher production values. Editors describe the alliance as “having a partner to help solve an elusive crux, rather than trying to unlock it yourself.”

• Reported revenue increased 4%; Adjusted revenue, excluding Engineering Solutions, increased 7%. Vitality revenue from new or enhanced products contributed 11% of reported revenue in Q2. • GAAP EPS decreased 44% due to gains on divestitures in Q2 2022, and adjusted diluted EPS increased 11% year over year. • Previously announced $1 billion ASR to be completed and additional $500 million ASR to be launched in the coming weeks. • Divestiture of Engineering Solutions closed on May 2, 2023.

Commenting on the results, Nigel Newton, Chief Executive, said: “Bloomsbury experienced excellent trading in the first half with year-on-year profit growth of 60% to £4.0 million. This has delivered our highest first half earnings since 2008 and exceeded the Board’s expectations. Online book sales and e-book revenues were significantly higher. The Consumer division had an excellent performance with 17% revenue growth and a £2.1 million increase in profit before tax and highlighted items to £2.7 million. Stand-out bestsellers during the period included Why I’m No Longer Talking to White People about Race, Crescent City: House of Earth and Blood, White Rage, Humankind and Such A Fun Age. In the Non-Consumer division, our strategy of developing online academic resources, conceived five years ago, meant we were well placed to benefit from the accelerated shift by academic institutions to digital products to support remote learning. We saw 47% growth in sales of Bloomsbury Digital Resources as a result.