Pearson PLC
Encyclopedia
Pearson plc is a global media and education company headquartered in London, United Kingdom. It is both the largest education company and the largest book publisher in the world, with consumer imprints including Penguin
, Dorling Kindersley
and Ladybird
. It also owns the Financial Times Group, which is the publisher of the Financial Times
.
Pearson has a primary listing on the London Stock Exchange
and is a constituent of the FTSE 100 Index
. It has a secondary listing on the New York Stock Exchange
. Marjorie Scardino
has been CEO since 1997.
The company built the Blackwall Tunnel
between 1892 and 1897.
, an interest which would be increased to 80% in 1932 during the depression years. Pearson continued to hold a 50% stake until 1999.
In 1921 Pearson purchased a number of local newspapers in the United Kingdom, which it combined to form the Westminster Press. In 1957, it bought the Financial Times
and acquired a 50% stake in The Economist
. It purchased the publisher Longman
in 1968.
The Company was first listed on the London Stock Exchange
in 1969. It went on to acquire Penguin Books
in 1970, and in 1972, Ladybird Books
.
In 1986, Pearson participated in the British Satellite Broadcasting
consortium. BSB, choosing expensive methods and technology, was out-manoeuvered by Rupert Murdoch
's Sky Television
, which used proven and simpler technology, and leased transponders on Astra
satellites. Sky gained an important foothold in the multichannel market and the eventual "merger" was effectively a takeover of BSB by Sky, the new company being renamed British Sky Broadcasting
(BSkyB) a few years later.
During the 1990s, Pearson acquired a number of TV production and broadcasting assets and rid itself of most of its non-media assets, under the leadership of future U.S. Congressman Bob Turner
.
Pearson acquired the education division of Simon & Schuster
in 1998. That same year, Pearson merged all its units--Penguin Books
, Ladybird Books
, Dorling Kindersley
, and Frederick Warne & Co
--to form the Penguin Group
. In November of that year, All American Television
, which Pearson bought a year earlier, became Pearson Television.
In September 2000, Pearson acquired National Computer Systems (NCS, Inc.) and entered the educational assessment and school management systems market in the United States.
.
In January 2003, Pearson sold its 22% stake in German media conglomerate RTL Group
, the largest commercial television and radio broadcaster in the EU.
Also in 2003 it secured control of Edexcel
, the testing and assessment company. Pearson subsequently purchased a series of other testing and assessment businesses, beginning with Knowledge Technologies in 2004, AGS in 2005, and National Evaluation Systems and Promissor in 2006. The combination of acquisitions and organic growth have made Pearson the largest assessment and testing provider in the United States.
Pearson sold its international government services (Pearson Government Solutions) division to Veritas Capital in March 2007. The new stand-alone company, Vangent, Inc, has its international headquarters in Arlington, VA, with offices in London, Rotherham, Yorkshire, and Canada.
In May 2007 Pearson announced that it had agreed to acquire Harcourt Assessment
and Harcourt Education International from Reed Elsevier
for $950m in cash. Due to Pearson's market-leading position in the U.S. textbook market they were not interested in the main Harcourt business on account of regulatory concerns. Pearson completed the acquisition of Harcourt Assessment on 30 January 2008, merging the acquired businesses into Pearson Assessment & Information
.
In February 2008 Pearson announced the sale of its Pearson Data Management Division (formerly the scanner manufacturing and servicing division of NCS Inc.) to Scantron
Corporation (part of M & F Worldwide
) which had been its main competitor.
, Pearson Education
and The Financial Times Group
.
, which includes international imprints such as Allen Lane
, Avery
, Berkley Books
, Dial, Dutton, Dorling Kindersley
, Grosset & Dunlap
, Hamish Hamilton
, Ladybird
, Plume
, Puffin
, Penguin
, Penguin Putnam Inc., Michael Joseph, Riverhead
, Rough Guides
, and Viking
.
Infoplease is a website devoted to "providing authoritative answers to all kinds of factual questions since 1938 first as popular radio quiz show
, then starting in 1947 as an annual almanac, and since 1998 on the internet."
, Addison-Wesley
, Prentice Hall
, Benjamin Cummings
, Pearson Scott Foresman
.
New York Institute of Finance provides financial training.
(the regulator for UK qualifications).
Penguin Books
Penguin Books is a publisher founded in 1935 by Sir Allen Lane and V.K. Krishna Menon. Penguin revolutionised publishing in the 1930s through its high quality, inexpensive paperbacks, sold through Woolworths and other high street stores for sixpence. Penguin's success demonstrated that large...
, Dorling Kindersley
Dorling Kindersley
Dorling Kindersley is an international publishing company specializing in illustrated reference books for adults and children in 51 languages. It is currently part of the Penguin Group....
and Ladybird
Ladybird Books
Ladybird Books is a London-based publishing company, trading as a stand-alone imprint within the Penguin Group of companies. The Ladybird imprint publishes mass-market children's books.-History:...
. It also owns the Financial Times Group, which is the publisher of the Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
.
Pearson has a primary listing on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and is a constituent of the FTSE 100 Index
FTSE 100 Index
The FTSE 100 Index, also called FTSE 100, FTSE, or, informally, the footsie , is a share index of the 100 most highly capitalised UK companies listed on the London Stock Exchange....
. It has a secondary listing on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
. Marjorie Scardino
Marjorie Scardino
Dame Marjorie Morris Scardino, DBE, FRSA is the CEO of Pearson PLC. She became the first female Chief Executive of a FTSE 100 company when she was appointed CEO of Pearson in 1997...
has been CEO since 1997.
Origins
The Company was founded by Samuel Pearson in 1844 as a building and engineering concern operating under the name of S. Pearson & Son. In 1880, control passed to his grandson Weetman, an engineer, who in 1890 moved the business to London and turned it into one of the world's largest construction companies.The company built the Blackwall Tunnel
Blackwall Tunnel
The Blackwall Tunnel is a pair of road tunnels underneath the River Thames in east London, linking the London Borough of Tower Hamlets with the London Borough of Greenwich, and part of the A102 road. The northern portal lies just south of the East India Dock Road in Blackwall; the southern...
between 1892 and 1897.
20th century
In 1919 the firm acquired a 45% stake in the London branch of merchant bankers Lazard BrothersLazard
Lazard Ltd is the parent company of Lazard Group LLC, a global, independent investment bank with approximately 2,300 employees in 42 cities across 27 countries throughout Europe, North America, Asia, Australia, Central and South America...
, an interest which would be increased to 80% in 1932 during the depression years. Pearson continued to hold a 50% stake until 1999.
In 1921 Pearson purchased a number of local newspapers in the United Kingdom, which it combined to form the Westminster Press. In 1957, it bought the Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
and acquired a 50% stake in The Economist
The Economist
The Economist is an English-language weekly news and international affairs publication owned by The Economist Newspaper Ltd. and edited in offices in the City of Westminster, London, England. Continuous publication began under founder James Wilson in September 1843...
. It purchased the publisher Longman
Longman
Longman was a publishing company founded in London, England in 1724. It is now an imprint of Pearson Education.-Beginnings:The Longman company was founded by Thomas Longman , the son of Ezekiel Longman , a gentleman of Bristol. Thomas was apprenticed in 1716 to John Osborn, a London bookseller, and...
in 1968.
The Company was first listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
in 1969. It went on to acquire Penguin Books
Penguin Books
Penguin Books is a publisher founded in 1935 by Sir Allen Lane and V.K. Krishna Menon. Penguin revolutionised publishing in the 1930s through its high quality, inexpensive paperbacks, sold through Woolworths and other high street stores for sixpence. Penguin's success demonstrated that large...
in 1970, and in 1972, Ladybird Books
Ladybird Books
Ladybird Books is a London-based publishing company, trading as a stand-alone imprint within the Penguin Group of companies. The Ladybird imprint publishes mass-market children's books.-History:...
.
In 1986, Pearson participated in the British Satellite Broadcasting
British Satellite Broadcasting
British Satellite Broadcasting was a British television company which provided direct broadcast satellite television services to the United Kingdom...
consortium. BSB, choosing expensive methods and technology, was out-manoeuvered by Rupert Murdoch
Rupert Murdoch
Keith Rupert Murdoch, AC, KSG is an Australian-American business magnate. He is the founder and Chairman and CEO of , the world's second-largest media conglomerate....
's Sky Television
Sky Television plc
Sky Television plc was a public limited company which operated its four-channel satellite television service, launched by Rupert Murdoch's News International on 5 February 1989...
, which used proven and simpler technology, and leased transponders on Astra
SES Astra
Astra is the name for the geostationary communication satellites, both individually and as a group, which are owned and operated by SES S.A., a global satellite operator based in Betzdorf, in eastern Luxembourg. The name is sometimes also used to describe the channels broadcasting from these...
satellites. Sky gained an important foothold in the multichannel market and the eventual "merger" was effectively a takeover of BSB by Sky, the new company being renamed British Sky Broadcasting
British Sky Broadcasting
British Sky Broadcasting Group plc is a satellite broadcasting, broadband and telephony services company headquartered in London, United Kingdom, with operations in the United Kingdom and the Ireland....
(BSkyB) a few years later.
During the 1990s, Pearson acquired a number of TV production and broadcasting assets and rid itself of most of its non-media assets, under the leadership of future U.S. Congressman Bob Turner
Bob Turner (politician)
Robert L. "Bob" Turner is the United States Representative for New York's 9th congressional district which straddles parts of Brooklyn and Queens. He is a member of the Republican Party, holding his first public office. He was elected in September 2011 to complete the term of Democrat Anthony...
.
Pearson acquired the education division of Simon & Schuster
Simon & Schuster
Simon & Schuster, Inc., a division of CBS Corporation, is a publisher founded in New York City in 1924 by Richard L. Simon and M. Lincoln Schuster. It is one of the four largest English-language publishers, alongside Random House, Penguin and HarperCollins...
in 1998. That same year, Pearson merged all its units--Penguin Books
Penguin Books
Penguin Books is a publisher founded in 1935 by Sir Allen Lane and V.K. Krishna Menon. Penguin revolutionised publishing in the 1930s through its high quality, inexpensive paperbacks, sold through Woolworths and other high street stores for sixpence. Penguin's success demonstrated that large...
, Ladybird Books
Ladybird Books
Ladybird Books is a London-based publishing company, trading as a stand-alone imprint within the Penguin Group of companies. The Ladybird imprint publishes mass-market children's books.-History:...
, Dorling Kindersley
Dorling Kindersley
Dorling Kindersley is an international publishing company specializing in illustrated reference books for adults and children in 51 languages. It is currently part of the Penguin Group....
, and Frederick Warne & Co
Frederick Warne & Co
Frederick Warne & Co was a British publishing firm famous for children's books, particularly those of Beatrix Potter. It was founded in 1865 by a bookseller, who gave his own name to the firm.- History :...
--to form the Penguin Group
Penguin Group
The Penguin Group is a trade book publisher, the largest in the world , having overtaken Random House in 2009. The Penguin Group is the name of the incorporated division of parent Pearson PLC that oversees these publishing operations...
. In November of that year, All American Television
All American Television
All American Television was a television syndication company active from 1981 to 1998. It was founded by Anthony J. Scotti, Ben Scotti, and Joseph E. Kovacs...
, which Pearson bought a year earlier, became Pearson Television.
In September 2000, Pearson acquired National Computer Systems (NCS, Inc.) and entered the educational assessment and school management systems market in the United States.
21st century
In 2002, Pearson sold its production unit to form FremantleMediaFremantleMedia
FremantleMedia, Ltd. is the content and production division of Bertelsmann's RTL Group, Europe's second largest TV, radio, and production company...
.
In January 2003, Pearson sold its 22% stake in German media conglomerate RTL Group
RTL Group
RTL Group is Europe's largest TV, radio and production company, and is majority-owned by German media conglomerate Bertelsmann. It has 45 television and 32 radio stations in 11 countries...
, the largest commercial television and radio broadcaster in the EU.
Also in 2003 it secured control of Edexcel
Edexcel
Edexcel, a UK company, is one of England, Wales and Northern Ireland's five main examination boards, and is wholly owned by the private-sector Pearson PLC, a UK-based media and publishing conglomerate. Its name is a portmanteau word derived from the words "educational" and "excellence"...
, the testing and assessment company. Pearson subsequently purchased a series of other testing and assessment businesses, beginning with Knowledge Technologies in 2004, AGS in 2005, and National Evaluation Systems and Promissor in 2006. The combination of acquisitions and organic growth have made Pearson the largest assessment and testing provider in the United States.
Pearson sold its international government services (Pearson Government Solutions) division to Veritas Capital in March 2007. The new stand-alone company, Vangent, Inc, has its international headquarters in Arlington, VA, with offices in London, Rotherham, Yorkshire, and Canada.
In May 2007 Pearson announced that it had agreed to acquire Harcourt Assessment
Harcourt Assessment
Harcourt Assessment was a company that published and distributed educational and psychological assessment tools and therapy resources and provided educational assessment and data management services for national, state, district and local assessments...
and Harcourt Education International from Reed Elsevier
Reed Elsevier
Reed Elsevier is a publisher and information provider operating in the science, medical, legal, risk and business sectors. It is listed on several of the world's major stock exchanges. It is a FTSE 100 and FT500 Global company...
for $950m in cash. Due to Pearson's market-leading position in the U.S. textbook market they were not interested in the main Harcourt business on account of regulatory concerns. Pearson completed the acquisition of Harcourt Assessment on 30 January 2008, merging the acquired businesses into Pearson Assessment & Information
Pearson Assessment & Information
The Assessment & Information group of Pearson is a division of Pearson Education, a business of Pearson PLC. The group is a provider of assessment and education data management services.- Businesses :...
.
In February 2008 Pearson announced the sale of its Pearson Data Management Division (formerly the scanner manufacturing and servicing division of NCS Inc.) to Scantron
Scantron
Scantron is an American company based in Eagan, Minnesota, that manufactures and sells machine-readable papers on which students mark answers to academic multiple-choice test questions. To analyze those answers, the machines use image-based data collection software and scanners...
Corporation (part of M & F Worldwide
M & F Worldwide
M&F Worldwide Corp. , formerly Power Control Technologies, Inc., was incorporated in Delaware on June 1, 1988 and is a NYSE listed public holding company that is a part of the Ronald O...
) which had been its main competitor.
Operations
Pearson has three operating divisions: The Penguin GroupPenguin Group
The Penguin Group is a trade book publisher, the largest in the world , having overtaken Random House in 2009. The Penguin Group is the name of the incorporated division of parent Pearson PLC that oversees these publishing operations...
, Pearson Education
Pearson Education
Pearson Education is an international educational publishing and technology company providing textbooks and other educational material, such as multimedia learning tools...
and The Financial Times Group
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
.
Penguin Group
Most Pearson trade publishing is done by the Penguin GroupPenguin Group
The Penguin Group is a trade book publisher, the largest in the world , having overtaken Random House in 2009. The Penguin Group is the name of the incorporated division of parent Pearson PLC that oversees these publishing operations...
, which includes international imprints such as Allen Lane
Allen Lane
Sir Allen Lane was a British publisher who founded Penguin Books, bringing high quality paperback fiction and non-fiction to the mass market.-Early life and family:...
, Avery
Avery
- Business :* Avery Brewing Company* Avery Dennison, manufacturer of office supplies including ink pens and adhesive labels, or its Avery trademark* Avery Weigh-Tronix, manufacturer of weighing scales* Avery Berkel, the predecessor of Avery Weigh-Tronix...
, Berkley Books
Berkley Books
Berkley Books is an imprint of Penguin Group that began as an independent company in 1955. It was established by Charles Byrne and Frederic Klein, who were working for Avon and formed "Chic News Company". They renamed it Berkley Publishing Co. in 1955. They soon found a niche in science fiction...
, Dial, Dutton, Dorling Kindersley
Dorling Kindersley
Dorling Kindersley is an international publishing company specializing in illustrated reference books for adults and children in 51 languages. It is currently part of the Penguin Group....
, Grosset & Dunlap
Grosset & Dunlap
Grosset & Dunlap is a United States book publisher founded in 1898.The company was purchased by G. P. Putnam's Sons in 1982 and today is part of the British publishing conglomerate, Pearson PLC through its American subsidiary Penguin Group....
, Hamish Hamilton
Hamish Hamilton
Hamish Hamilton Limited was a British book publishing house, founded in 1931 eponymously by the half-Scot half-American Jamie Hamilton . Confusingly, Jamie Hamilton was often referred to as Hamish Hamilton...
, Ladybird
Ladybird Books
Ladybird Books is a London-based publishing company, trading as a stand-alone imprint within the Penguin Group of companies. The Ladybird imprint publishes mass-market children's books.-History:...
, Plume
Plume (publishing)
Plume is a publishing company in the United States, founded in 1970 as the trade paperback imprint of New American Library. Today it is a division of Penguin Group, with a backlist of approximately 700 titles....
, Puffin
Puffin Books
Puffin Books is the children's imprint of British publishers Penguin Books. Since the 1960s it has been the largest publisher of children's books in the UK and much of the English-speaking world.-Early history:...
, Penguin
Penguin Group
The Penguin Group is a trade book publisher, the largest in the world , having overtaken Random House in 2009. The Penguin Group is the name of the incorporated division of parent Pearson PLC that oversees these publishing operations...
, Penguin Putnam Inc., Michael Joseph, Riverhead
Riverhead
Riverhead may refer to:* Riverhead, Kent, England* Riverhead, New Zealand* Riverhead, Newfoundland and Labrador, Canada* Riverhead, Nova Scotia, a community in the Canadian province of Nova Scotia* Riverhead , the debut album of Goldenhorse...
, Rough Guides
Rough Guides
Rough Guides Ltd is a travel guidebook and reference publisher, owned by Pearson PLC. Their travel titles cover more than 200 destinations, and are distributed worldwide through the Penguin Group...
, and Viking
Viking Press
Viking Press is an American publishing company owned by the Penguin Group, which has owned the company since 1975. It was founded in New York City on March 1, 1925, by Harold K. Guinzburg and George S. Oppenheim...
.
Infoplease is a website devoted to "providing authoritative answers to all kinds of factual questions since 1938 first as popular radio quiz show
Information Please
Information Please was an American radio quiz show, created by Dan Golenpaul, which aired on NBC from May 17, 1938 to April 22, 1951. The title was the contemporary phrase used to request from telephone operators what was then called "information" but is now called "directory assistance".The series...
, then starting in 1947 as an annual almanac, and since 1998 on the internet."
Pearson Education
Pearson Education operates educational publishing and publishes software, assessments and training. Some of Pearson's educational publishing imprints include Pearson LongmanLongman
Longman was a publishing company founded in London, England in 1724. It is now an imprint of Pearson Education.-Beginnings:The Longman company was founded by Thomas Longman , the son of Ezekiel Longman , a gentleman of Bristol. Thomas was apprenticed in 1716 to John Osborn, a London bookseller, and...
, Addison-Wesley
Addison-Wesley
Addison-Wesley was a book publisher in Boston, Massachusetts, best known for its textbooks and computer literature. As well as publishing books, Addison-Wesley also distributed its technical titles through the Safari Books Online e-reference service...
, Prentice Hall
Prentice Hall
Prentice Hall is a major educational publisher. It is an imprint of Pearson Education, Inc., based in Upper Saddle River, New Jersey, USA. Prentice Hall publishes print and digital content for the 6-12 and higher-education market. Prentice Hall distributes its technical titles through the Safari...
, Benjamin Cummings
Benjamin Cummings
Benjamin Cummings is a publishing imprint of Pearson Education that specializes in science. Benjamin Cummings publishes medical textbooks, anatomy and physiology laboratory manuals, biology and microbiology textbooks, and health/kinesiology textbooks....
, Pearson Scott Foresman
Pearson Scott Foresman
Scott Foresman is an elementary educational publisher for PreK through Grade 6 in all subject areas. It is owned by Pearson Education.-Company history:...
.
New York Institute of Finance provides financial training.
Financial Times Group
Financial Times Group operates financial publishing.- Financial TimesFinancial TimesThe Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
- Financial Times Business Group
- FTSEFTSE GroupFTSE Group is a world-leader in the provision of global index and analytical solutions. FTSE calculates indices across a wide range of asset classes, on both a standard and custom basis...
International (50% stake) - The Economist GroupThe Economist GroupThe Economist Group is a leading source of analysis on international business and world affairs, delivering information through a range of formats, from newspaper and magazines to conferences and electronic services...
(50% stake)
Criticisms
Edexcel is the only large examination board to be held in private hands. Edexcel's change from a charity to a profit-making company has led to criticisms and calls into question conflict of interest within the education system. As a part of Pearson (a private publisher) Edexcel has produced qualifications which link to Pearson texts. Edexcel also continues to endorse textbooks published by non-Pearson companies. Edexcel is regulated by OfqualOfqual
The Office of Qualifications and Examinations Regulation is a non-ministerial government department that regulates qualifications, exams and tests in England and vocational qualifications in Northern Ireland.-Role:...
(the regulator for UK qualifications).