Pearson to sell Jossey-Bass to American publisher for pounds 51m

Pearson to sell Jossey-Bass to American publisher for pounds 51m

PEARSON YESTERDAY said it was selling publisher Jossey-Bass to John Wiley & Sons, a US publisher founded in 1807, for $82m (pounds 51m). Jossey-Bass, which is based in San Francisco, publishes books, periodicals and online products on managing businesses and not-for-profit institutions.

Pearson agreed to sell certain publishing assets last year under a pact with US regulators to secure approval of its purchase of Simon & Schuster's reference and business publishing units. Those businesses, which include titles such as the New World Dictionary, are expected to fetch between $300m and $350m, and are to be sold by the end of June.