Apple announced that it will acquire digital magazine subscription service Texture, adding another service into its repertoire of monthly-billed entertainment. Texture offers subscribers unlimited access to over 200 magazines, including titles such as The New Yorker, ESPN Magazine, Time and National Geographic. The terms of the deal were not disclosed. Having launched in 2010, as Next Issue, Texture was created in a collaborative effort by Condé Nast, Hearst, Meredith, News Corp., Rogers Communications and Time Inc., to provide a place for readers to access stories and entire issues of familiar titles while also introducing them to new publications. Click Read More below for additional information.
John Wiley & Sons, Inc. (NYSE:JWA)(NYSE:JWB), a global research and education company, today announced results for the fourth quarter and fiscal year ended April 30, 2019.
FOURTH QUARTER 2019 HIGHLIGHTS
• GAAP results: Revenue of $491 million (+3%), Operating Income of $80 million (+10%), and EPS of $1.10 (+19%)
• Adjusted results excluding FX: Revenue +7%, Operating Income +14%, and EPS +19%
• Adjusted results excluding FX and impact from Learning House acquisition: Revenue +3%, Operating Income +17%, and EPS +26%
• Acquisition of Knewton on May 31 boosts competitive position in adaptive learning and affordable content
FISCAL YEAR 2019 HIGHLIGHTS
• GAAP results: Revenue of $1.8 billion (+0.2%), Operating Income of $224 million (-3%), and EPS of $2.91 (-12%)
• Adjusted results excluding FX: Revenue +2%, Operating Income -9%, and EPS -8%
• Adjusted results excluding FX and impact from Learning House acquisition: Revenue +0.4%, Operating Income -6%, and EPS -4%
• Acquisition of Learning House strengthens Wiley’s leadership position in the rapidly-growing education services market for universities and corporations
• The Company’s transformation to digital continues with digital products and tech-enabled services now accounting for 75% of total revenue
“We are pleased with the momentum that we’re seeing across the Company,” said Brian Napack, President and CEO. “We achieved our targets for revenue and earnings and are seeing good growth in strategic areas such as Research Open Access publishing, Education Services, Test Preparation and Certification, and corporate training. We also made two important acquisitions in education and began to see returns from our multi-year business optimization program. We are executing well and are energized by the results we are seeing from our strategic investments in the important markets we serve – research and education.”
more detail at: https://newsroom.wiley.com/press-release/all-corporate-news/wiley-reports-fourth-quarter-and-fiscal-year-2019-results