Pearson Sells Macmillan Library Reference
Posted on June 21, 1999Pearson plc, the international media company, has agreed the latest of the planned disposals of a number of its reference and business & professional publishing operations. Pearson is to sell Macmillan Library Reference USA to The Thomson Corporation for $86m.
Macmillan Library Reference USA publishes books for high school, college and public libraries. It specialises in two distinct product lines: premium quality reference materials for libraries and higher education institutions and large print fiction and non-fiction publishing for public library users.
Pearson announced on 25 January that it planned to sell a number of its reference and business & professional operations. On 17 May, Pearson announced the sale of medical publisher, Appleton & Lange, and Master Data Center, which provides payment services for the owners of intellectual property, for a total of $79m. This was followed by the sale of Jossey-Bass to John Wiley and Sons, Inc. for $82m and the sale of Bureau of Business Practice to Wolters Kluwer for $16m, these deals were confirmed on 24 May. Pearson also plans to sell Macmillan General Reference and Prentice Hall Direct.