Inside the Cengage Bankruptcy

July 2, 2013

Bankruptcy filings amount to hundreds of pages. If you’re interested in Cengage Learning’s bankruptcy and want to read the source documents start at the Cengage site on a page called “Information About Our Restructuring.” At the bottom of the page you’ll find a link to “Claims Information & Court Filings,” where many of the meaty documents reside, including a set of “Court Docket” filings. The first reveals that the Chapter 11 voluntary petition fee is $1213. Not bad, given that investors are facing a write-off of some $4 billion of the $7.75 billion spent to acquire Cengage from Thomson in 2007. (Three days later Thomson announced it would buy Reuters for $17.2 billion and it was then obvious that a grand plan had motivated the sale of the Thomson educational publishing division.) (more…)

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McGraw-Hill Sold for a Fraction of Cengage Learning

November 30, 2012

Let’s keep it simple in this posting.

On May 11, 2007 The Thomson Corporation announced that it had sold its Thomson Learning division to two private equity groups. The company was soon renamed Cengage Learning.

The last year that Thomson reported sales for Thomson Learning was fiscal year 2005.

Here’s the report: (more…)

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