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Scott Foresman Co

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BUSINESS
November 23, 1989 | From Reuters
Time Warner Inc. said Wednesday that it will sell schoolbook publisher Scott Foresman & Co. to Rupert Murdoch's Harper & Row at a loss, ending its failed effort to make big money in textbooks. The $455-million deal, including the assumption of $48 million in debt, is the latest acquisition of a U.S. book publisher by a foreign group and comes at a troubled period in U.S. publishing. The transaction will result in a $175-million pretax loss in the fourth quarter for Time Warner.
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BUSINESS
November 23, 1989 | From Reuters
Time Warner Inc. said Wednesday that it will sell schoolbook publisher Scott Foresman & Co. to Rupert Murdoch's Harper & Row at a loss, ending its failed effort to make big money in textbooks. The $455-million deal, including the assumption of $48 million in debt, is the latest acquisition of a U.S. book publisher by a foreign group and comes at a troubled period in U.S. publishing. The transaction will result in a $175-million pretax loss in the fourth quarter for Time Warner.
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NEWS
October 14, 1986 | Associated Press
Time Inc. has agreed to acquire Scott, Foresman & Co., one of the nation's leading textbook publishers, from SFN Companies Inc. for $520 million in cash, the companies announced today. SFN also said it has agreed to sell its South-Western Publishing Co., another educational publisher, to Toronto-based International Thomson Organisation Ltd. for $270 million in cash. SFN said the sales were motivated by the changes in the nation's tax laws scheduled to become effective Jan. 1.
BUSINESS
November 22, 1989 | From Times wire services
Time Warner Inc. said today that it has agreed to sell its Scott Foresman & Co. textbook publishing subsidiary for $455 million to a unit of Harper & Row Publishers Inc. and will take a $175-million pretax loss on the sale. It is Time Warner's first major sale of assets following Time Inc.'s agreement last summer to buy Warner Communications Inc. for $14 billion.
BUSINESS
December 6, 1986 | PAUL RICHTER
The chief executives of Time Inc.'s magazine and book divisions will swap jobs in a move intended to "reinvigorate" both units, Time said this week. Kelso F. Sutton, 47, chief executive of Time's magazine group, will become chief executive of the book publishing unit, the company said, while Reginald K. Brack Jr., 49, will take Sutton's job. The magazine unit is the nation's largest, with 1985 revenue of about $1.5 billion.
NEWS
May 27, 1988 | United Press International
Continuing care retirement communities--those offering such services as nursing, transportation and meals--are becoming an increasingly popular option for older Americans, according to the American Assn. of Retired Persons. Sometimes called lifecare facilities, continuing care communities usually guarantee their special services by contract for the life of the resident.
NEWS
February 21, 1985 | From Times Wire Services
Elizabeth Rider Montgomery Julesberg, the woman whose reading primers about Dick and Jane and Spot the dog helped more than 20 million children learn to read, is dead at 82. Mrs. Julesberg, author of more than 70 published books and plays, died Tuesday at Providence Hospital in Seattle after a long illness. She was a first-grade teacher in Los Angeles in 1940 when she wrote the first of the primer series, "We Look and See."
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