John Wiley & Sons, a publisher known for its technical and academic imprints, announced Wednesday that it’s putting a number of its print and digital publishing assets up for sale. They’re spread across a number of topic areas, including Webster’s New World, CliffsNotes, as well as publishing imprints for fields as diverse as culinary, general interest, nautical, pets, and crafts.
The assets up for sale earned around $85 million last fiscal year, and are being sold only after a reevaluation of the company’s Professional/Trade business portfolio. “We plan to drive long-term growth, accelerate our digital transformation, and optimize our return on investment by investing in content and services that provide our customers in research, learning and professional practice with knowledge resources that help them to realize their professional and personal goals,” said Stephen M. Smith, Wiley’s President and Chief Executive Officer.
Wiley won’t be selling assets from its other business units (Scientific, Technical, Medical, and Scholarly and Global Education) at this time.