Delaware’s ‘Star News’ Will Be Delivered By USPS (mediapost.com)

Pearson is announcing that it has completed the sale of Global Education (GEDU) to Puxin Education. The disposal, together with the sale of associated property assets, is expected to generate gross cash proceeds to Pearson in the region of $80m. GEDU is a leading provider of English language training and test preparation for Chinese students wishing to study abroad. In 2016 the business served 64,000 learners with revenue of £78m and an adjusted operating loss of £4m. In 2016 GEDU had approximately 1,900 FTE employees. Click Read More below for additional detail.

Condé Nast has shuttered its print edition of Teen Vogue, adjusting the frequency of various titles, and laying off approximately 80 staffers, Folio: has learned. The cuts represent approximately 2.5 percent of its 3,000 employees, and the company “is expected to complete its final round of cuts by next Thursday,” reports WWD. In addition to the changes at Teen Vogue, GQ, Glamour, Allure, Architectural Digest, Bon Appétit, W and Condé Nast Traveler are among the company’s magazines set to see decreases in print frequency. Vanity Fair, Vogue, Wired, Brides and The New Yorker, however, will remain unaffected and continue to print at the same frequency. Click Read More below for additional information.

Unlisted German publishing giant Bertelsmann is not considering any further large takeovers worth “billions” and has no plans to list its Penguin Random House (PRH) division, Chief Financial Officer Bernd Hirsch told newspaper Boersen-Zeitung. Bertelsmann raised its stake in PRH to 75 percent in July, giving it the option of listing the business after it purchased a PRH stake from rival Pearson . Asked whether Bertelsmann was seeking full control of PRH, Hirsch said: “We have reached our goal of gaining 75 percent control.” Buying the outstanding 25 percent stake, which is still owned by Pearson, would depend on whether Pearson approached Bertelsmann over the matter, Hirsch said. Asked whether Bertelsmann would consider listing PRH, Hirsch said: “We have the IPO option. But this is not a scenario which we are thinking about.” The progress already being made to transform Bertelsmann into a digital publishing company has reduced the need to raise funds via the stock market to finance further strategic change. “If you think in a five-year timespan, the financing need is no longer of a magnitude where large projects need to be financed via an initial public offering,” Hirsch told the paper. Bertelsmann is also not considering a sale of its Printing Group, Hirsch added.