J. C. Penney Company, Inc. announced that it has received authorization from the U.S. Bankruptcy Court for the Southern District of Texas, in Corpus Christi, Texas (the “Court”) to access its debtor-in-possession (“DIP”) financing, which includes $450 million of new money from its existing First Lien lenders. The Company had previously received approval to access and use its approximately $500 million in cash collateral. Under the terms of the DIP agreement, JCPenney has access to up to $225 million immediately, and will have access to an additional $225 million as needed after July 15, 2020, subject to certain conditions. In addition, the Company’s Ad Hoc Crossholder Group of lenders has agreed to participate in the rollup portion of the DIP in the amount of $53 million. Jill Soltau, chief executive officer of JCPenney, said, “We are pleased to have received Court approval to access $450 million in new money, $225 million of which will be drawn immediately. This is a positive step forward that will help us execute our Plan for Renewal and store optimization strategy, continue working seamlessly with our vendor partners, fund our ongoing business operations, and continue our focus on further developing the Company’s go-forward business plan to successfully restructure JCPenney. In recent weeks, we have safely welcomed back valued customers to nearly 500 JCPenney stores, and we look forward to opening additional stores while following guidance from local and state orders. This progress would not be possible without the hard work and dedication of our associates, and we remain confident we will emerge from both Chapter 11 and this pandemic as a stronger retailer.”

Bertelsmann had a successful first half of 2017. The international media, services, and education company reports revenue growth, operating EBITDA at a high level, and a first-half operating Group result of over €500 million for the first time in its history. The Group achieved further progress in implementing its growth strategy, and among other major initiatives signed an agreement to increase its stake in the world's largest trade publishing group, Penguin Random House, to a strategic majority of 75 percent. Bertelsmann increased its Group revenues by 2.1 percent to €8.1 billion in the reporting period (H1 2016: €8.0 billion). Organic growth improved to 1.4 percent (H1 2016: 1.3 percent). RTL Group's digital TV businesses, the digital activities of Gruner + Jahr and BMG, Arvato SCM Solutions and the Bertelsmann Education Group in particular developed positively. Growth businesses grew by 9 percent to €2.7 billion (H1 2016: €2.3 billion). For the first time, they accounted for more than 30 percent of total sales. Click Read More below for additional detail.

The Company reported second quarter 2024 revenue of $3.549 billion, an increase of 14% compared to the second quarter of 2023. Second quarter GAAP net income increased 98% to $1.011 billion and GAAP diluted earnings per share increased 102% to $3.23 as higher net income was driven primarily by strong growth in Ratings and Indices. Excluding the impact of Engineering Solutions (ES), revenue growth would have been 16% year over year. Adjusted net income for the second quarter increased 27% to $1.267 billion and adjusted diluted earnings per share increased 30% to $4.04. On June 27, 2024, the Company announced that Douglas L. Peterson will retire as President and CEO effective November 1, 2024. Martina Cheung was unanimously selected by the Board as the next President and CEO. Ms. Cheung is currently serving as President of S&P Global Ratings. As previously announced, Yann Le Pallec will succeed Ms. Cheung as President of S&P Global Ratings, also effective November 1, 2024.