The two major educational publishers announced an all-stock merger a year ago, but ran into regulatory issues and criticism around market dominance and pricing.
The books business is beginning its largest test of remote staffing, as publishers shift from urging to ordering employees to stay home amid the outbreak.
The Authors Guild’s new statement sees unsettled business between Cengage Unlimited and authors over the publisher’s new usage-based royalty payments.
Reporting US$2.62 billion in 2018 revenue, China’s sprawling Phoenix Publishing & Media already has deals in 30 countries and wants to get only bigger.
Wattpad cites a 10-million-person rise in worldwide monthly active users. And Cengage faces another court challenge to its subscription model.
Anticipating a combined pro forma cash revenue of US$3,157 million, the new entity will take McGraw-Hill’s name, the deal expected to close by early 2020.
Education content subscription model Cengage Unlimited has sold more than one million subscriptions since August 2018, according to preliminary data from Cengage.
A ‘fast follow’ is planned for Spanish-language regions for Wattpad Next payments, now beta-testing in the USA. Cengage Unlimited adds another university.
A new Penguin Random House site for educators markets curriculum-relevant titles from both the frontlist and backlist. And two programs are providing tens of thousands of Cengage’s new subscription to students.
A study commissioned by Ingram finds that students delay or avoid purchasing expensive textbooks. Education publishers respond with digital textbooks.