Pearson's Purchase Across The Pond
MARJORIE SCARDINO, CEO OF BRITISH MEDIA giant Pearson, made her boldest move yet, buying Simon & Schuster's education divisions for $4.6 billion on May 18. Since taking over in 1997, Scardino has been cleaning up the portfolio and beefing up Pearson's brand names, including Penguin Books USA and the Financial Times. The Simon & Schuster deal makes Pearson a global leader in educational publishing. Scardino plans to sell off about $1 billion in S&S assets to LBO firm Hicks Muse Tate & Furst.
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