November 20, 2014

Cengage Creditors Sign Off on Pre-Negotiated Bankruptcy

Cengage Learning product mix shift to digital bar chart

Cengage Learning reached an agreement with an ad hoc committee of first lien lenders to reduce approximately $4 billion of the company’s $5.8 billion of outstanding debt, the company announced yesterday. In conjunction with the deal, and as the company announced it might in May, Cengage and its domestic, wholly owned subsidiaries filed voluntary petitions for Chapter 11 in the Bankruptcy Court for the Eastern District of New York. (Cengage’s non-U.S. subsidiaries are not included in the filings and “will continue to operate in the ordinary course without interruption,” the company said in a statement.)

Westerns Thrive at Five Star | PubCrawl

Westerns may represent only a tiny piece of the larger genre pie, but the staying power of Five Star Publishing, a Gale/Cengage Learning company whose primary audience is libraries, indicates a small but dedicated audience still exists. This July, Five Star launched a new line, Frontier Fiction, which will publish 12 titles a year. “Frontier […]

Cengage May Declare Bankruptcy

Cengage Learning logo

Major academic content, software, and services company Cengage Learning is considering filing for bankruptcy relief, the company’s CEO, Michael Hansen, said on a call reporting third quarter financial results.

Auraria Skateboard Marketing Program Wins Gale Contest

Joseph Sanchez skateboarding

Auraria Library in Denver won the Out-of-the-Box Marketing Contest, launched by Gale, part of Cengage Learning, at the inaugural R-Squared Risk and Reward Conference this September.

Textbook Publishers Settle Counterfeit Claims

Cengage Learning, John Wiley and Sons, Pearson Education, and McGraw-Hill Education settled five copyright and trademark infringement claims related to counterfeit textbooks, the companies announced recently. The five distributors who agreed to settle the publishers’ claims are: Kentwood Industries in California, Texas Book Company in Texas, Sterling Educational Media in Florida, Davis Textbook in California, […]