Wiley sells 180 titles from its consumer nautical publishing programs to Fernhust Books as part of its planned consumer asset divestiture; deal includes digital, print assets
May 31, 2013
– Fernhust Books today announced that it has acquired assets from John Wiley & Sons, Inc.'s (NYSE: JWa, JWb) nautical consumer publishing program. The terms of the acquisition, which closed 31 May 2013, were not disclosed.
Fernhurst acquired the digital and print assets for approximately 180 Wiley titles from its consumer nautical publishing programs. Among the titles purchased are such classics as the bestselling Rules in Practice, the Ultimate Adventure series and Cruising Companions.
"As founder of the business that was acquired to form Wiley Nautical, I am excited to become re-associated with these titles and authors. I am confident that returning this list to a group of enthusiastic sailors will be of great benefit to the sailing and water sports fraternity as well as the authors," said Tim Davison of Fernhurst Books.
"We believe that Fernhurst Books is well-positioned to provide the strategic focus and community access required for these assets to achieve their full potential and continue to flourish,” said Mark Allin, Wiley's Senior Vice President, Professional Development. "While these assets have contributed to Wiley's success to date, Wiley is reshaping its portfolio to support growth opportunities in global research, education and professional practice, and create products and services that help customers become more effective throughout their education and careers."
It is the fifth and last sale associated with Wiley's planned consumer asset divestiture, which was first announced in March 2012. Those assets included consumer print and digital publishing programs in travel (including the well-known Frommer's brand), culinary, general interest, pets, crafts, Webster's New World, and CliffsNotes. On August 30, 2012, Wiley completed the sale of all of its travel assets, including the Frommer's brand, to Google. On November 6, 2012, Wiley completed the sale of its culinary, CliffsNotes, and Webster's New World Dictionary consumer publishing programs to the Boston-based global learning company, Houghton Mifflin Harcourt (HMH). On April 3, 2013 Wiley completed the sale of its pets, crafts and general interest consumer program to Turner Publishing; and on the following day HarperCollins Canada completed the purchase of select titles from Wiley Canada.
About Fernhurst Books
Fernhurst Books Limited is a new company which has been put together by a group of investors, comprising of skilled racers and experienced cruisers, as well as publishing professionals, to acquire the Wiley Nautical list. It will be based in Leamington Spa and managed by Jeremy Atkins. Its website can be accessed at www.fernhurstbooks.com.
Wiley is a global provider of content-enabled solutions that improve outcomes in research, education, and professional practice. Our core businesses produce scientific, technical, medical, and scholarly journals, reference works, books, database services, and advertising; professional books, subscription products, certification and training services and online applications; and education content and services including integrated online teaching and learning resources for undergraduate and graduate students and lifelong learners.
Founded in 1807, John Wiley & Sons, Inc. (NYSE: JWa, JWb), has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Wiley and its acquired companies have published the works of more than 450 Nobel laureates in all categories: Literature, Economics, Physiology or Medicine, Physics, Chemistry, and Peace. Wiley's global headquarters are located in Hoboken, New Jersey, with operations in the U.S., Europe, Asia, Canada, and Australia. The Company's website can be accessed at http://www.wiley.com.
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