Chapter 1388 So Familiar

"In the last year of Marjorie's tenure, I think it was 2013.

That year, Pearson Group sold its mass publishing assets, Penguin Publishing, to Bertelsmann to form Penguin-Random House. Marjorie believes that after her tenure, Pearson will focus more on education, while " The existence of the Financial Times is obviously not in line with her positioning of Pearson Group. "

Yang Cheng frowned slightly, "But you also said that she strongly opposes the sale of the Financial Times."

Eddie took a sip of coffee, "This is different, boss, the sale of Enterprise Publishing House was not the result of Marjorie's whim.

In fact, education! It is a rigid demand in most families. Therefore, during Marjorie's tenure, Pearson Group's operating income and profits mainly came from education and related education services, which of course has something to do with her dedication.

I specifically checked historical data. In the year when Marjorie sold Penguin Publishing, Pearson Group’s operating income reached 5.69 billion pounds, of which Pearson Education Group’s income was 4.728 billion pounds, accounting for 83%.

At that time, traditional publishing was facing the impact of the Internet, and the difficulty of operation was increasing. Coupled with the downward pressure of the global economy, for Pearson, which had become the world's first brand of educational publishing and services at that time, Penguin Press, which mainly focuses on mass publishing, It can be said that it is out of tune with the Pearson Group, so that it is only a matter of time and money to be sold.

However, at that time, the "Financial Times" was still a well-deserved overlord of influence in the UK, Europe, and even the world, so even though the "Financial Times" was facing the same dilemma as Penguin Press, Marjorie still valued it, and she hoped that Pearson Group would keep it. This window for speaking to the outside world. "

Yang Cheng understood Eddie's meaning, and said thoughtfully, "But the times are different. In 2013, Britain, which is accustomed to the traditional reading mode, can still hang on to the "Financial Times" and continue to live on. After the explosion of the Internet in the past few years, it can be said that the "Financial Times" can only be a burden to the Pearson Group if you keep it in your hands in your twilight years.

But Marjorie has a domineering personality, and she doesn't want the route she planned before leaving office to be forcibly changed by the newcomers later, so she jumped out to express her opposition excitedly. "

Eddie gave a thumbs up, "All! The current management of Pearson Group believes that removing the "Financial Times" revenge will better focus its business on the education strategy and focus more on North America and China. We will explore the education field in other emerging markets.

The most important thing is that the income of Pearson Group has been declining year by year in recent years. They also need to sell the "Financial Times" in exchange for a considerable sum of money to contribute new blood to the development of the market, so as to make the strong stronger. "

Yang Cheng nodded slowly, "The management of Pearson Group is great, this is an excellent plan."

Eddie took advantage of the situation and said, "Actually, we can take this opportunity to talk to Pearson Group. To invest in Pearson, education is a major plan for mankind. Children's education is always the most concerned thing for mainstream consumers. I believe that investing in education is the same as investing in infrastructure. Like other fields, it is the best choice for conservative investment.”

Yang Cheng obviously didn't expect Eddie's idea. After thinking about it, it seems to be a good plan, but "Why does it have to be Pearson?"

Of course, this doubt stems from his insufficient understanding of Pearson.

Hearing Yang Cheng's question, Eddie pondered, "Once the acquisition of the Financial Times is successful, Pearson, which has acquired a large amount of capital, will have a clear strategic direction.

That is North America and emerging markets in Asia.

The growth of Pearson’s education sector is mainly due to the good performance of the school business. Its income sources are mainly divided into three major areas: the North American market, the international market, and vocational education. Among them, the North American market is still the largest, and its sales can approach nearly 3 billion pounds, about 4.5-4.6 billion U.S. dollars, this figure accounts for about 70% of Pearson's total revenue, and controls about 60% of the North American exam market, and vocational education sales are as much as 400 million pounds.

Of course, the fastest growing performance must be emerging markets, and the data in various aspects are also very intriguing.

In the past five years, the sales and operating profit of Pearson's international education segment have grown at a rate of more than 15% every year.

The new president is still the British John**. In the year he took office, Pearson accelerated the expansion of emerging markets and acquired the largest chain English (excellent course) training institution in Brazil for more than 700 million US dollars. My information is not Comprehensive, but this institution has more than 2600 branches all over Brazil, and this number is constantly growing!

Of course, this is not the first big move of Pearson Education in emerging markets. Brazil is not the only emerging market, nor is Pearson the most important. The far east, country Z after the reform and opening up is the country!

The rapid economic growth of country Z and people's investment in education made it a cash cow for Pearson, and it is also the most important market for Pearson besides North America! "

Yang Cheng stared in surprise, "Has Pearson entered the country Z market very early?"

Eddie looked at Yang Cheng puzzled, not knowing what was so surprising about it.

But it's not easy to ask questions, so I can only answer honestly, "That's how it was introduced in my information. I entered country Z as early as the 1970s and 1980s."

Yang Cheng pressed his hands, got up and moved out of his seat, and waved to Eddie, "Come and get the information."

Eddie immediately downloaded it from the cloud disk to Yang Cheng's computer, and Yang Cheng looked at it with a dumbfounding expression.

The books I co-authored when I was a child were all for nothing. It turns out that Longman Publishing is owned by Pearson, including a large number of English textbooks such as "Practical Basic English", "New Concept English", "Longman English Dictionary", etc. These are from generations of Z countries. A classic textbook for people to learn English.

Even Global IELTS, which is hated to the core by countless people, was acquired by Pearson for US$300 million in 2011.

After reading the information, Yang Cheng sighed deeply. She never thought that Pearson Group was so close to her.

This also made him have a natural affection for Pearson, and his determination to invest further increased.

Seeing that Yang Cheng had finished reading the materials, Eddie continued, "According to the current price negotiated between Nikkei and Pearson, I predict that the final transaction price of the Financial Times will be between 800 and 900 million pounds.

Naturally, this money will not stay in Pearson's account for a long time, and all this leaves room for imagination for Pearson's next move.

I think Pearson must have a relatively complete plan. If you invest before then, you will be able to reap the fruits directly in a short time. "

Yang Cheng's heart began to flutter, and the frequency of his fingers tapping on the table gradually increased, but he still had one last doubt, which was also his first doubt, "You really have the confidence to convince Marjorie that although I don't know her, I know her well." It's a huge stumbling block!"

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