Operating revenues were $854.2 million, including approximately $49.1 million from the 53rd week, compared to $867.0 million in the prior year quarter. Favorable changes in foreign currency exchange rates benefited revenues by $4.2 million. Same store operating revenues declined 8.8%, an improvement compared to a decline of 9.4% in the third quarter of 2017, due to our strategic subscriber pricing initiatives and the inclusion of a full quarter of ReachLocal revenue in our same store calculation. Total digital revenues increased to $272.3 million, or approximately 31.9% of total revenue. GAAP net losses were $13.6 million, including a $42.8 million tax expense from the Tax Cuts and Jobs Act of 2017 and $27.6 million of after-tax restructuring, asset impairment charges and other costs. Click Read More below for additional information.
Inspirit Capital Announces the Acquisition of Wiley Edge
Inspirit Capital, a UK-based investment firm, has entered into a definitive agreement with Wiley (NYSE:WLY), one of the world’s largest publishers and a global leader in research and learning, to acquire Wiley Edge (“Edge”), an early-career talent, training and placement business serving global employers. The transaction is expected to close in the first quarter of 2024, subject to satisfaction of customary closing conditions.
Edge is an industry-leading provider of Hire, Train, Deploy (“HTD”) talent solutions, supporting multinational employers by sourcing, training and deploying high-potential entry-level talent on a contract-to-hire basis. Currently operating in 11 countries, the business plays an important role in addressing the enduring global skills gaps in high-demand areas of technology and business. Edge has a leading recruitment and selection operation, with access to diverse talent around the globe, and delivers bootcamp-style courses through its Academy. In addition to its core early-career HTD services, Edge also offers tailored training programs to reskill clients’ existing workforces, enhancing employee retention and helping employers address internal skill gaps in an increasingly competitive global labor market.
Inspirit Capital is a London-based investment firm that specialises in acquiring businesses that are no longer core to their parent company’s strategic objectives and require a different ownership structure to achieve their full potential. Inspirit manages capital on behalf of a blue-chip institutional investor base.
more at: https://newsroom.wiley.com/press-releases/press-release-details/2024/Inspirit-Capital-Announces-Acquisition-of-Wiley-Edge/default.aspx