Pearson, the media and entertainment group, today welcomes Marjorie Scardino as its new chief executive. She joins from the Economist Group and it is believed one of her first priorities will be a major shake-up of the company which many City analysts consider too sprawling.
It is thought that Pearson’s TV subsidiary will be a target for change. It may be spun off as a separate concern or even sold. Greg Dyke, chief executive of Pearson TV, is reported to favour the second option. Pearson Television performed particularly well in the company’s last set of yearly results *Pearson Profits Rise To £365m and this will no doubt put an attractive price on the business – profits were up 189% from £11.6m in 1994 to £33.5m in 1995.
Other concerns which may be sold off include Mindscape, Pearson’s CD-ROM business, and its theme park division which includes Madame Tussaud’s.
* MediaTel subscribers only
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