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Wiley Hopes to Sell Frommer’s, Webster’s New World & CliffsNotes

Publisher John Wiley & Sons has hired Allen & Company “to explore the sale” of some of its most recognizable assets.

The release explained: “The assets are in travel (including the well-known Frommer’s brand), culinary, general interest, nautical, pets, crafts, Webster’s New World, and CliffsNotes.” According to the publisher, these units generated combined revenues of $85 million last fiscal year.

Wiley CEO Stephen M. Smith explained the shift in direction: “Wiley will re-deploy resources in its Professional/Trade business to build on its global market-leading positions in business, finance, accounting, leadership, technology, architecture, psychology, education, and through the For Dummies brand.” (Via Sarah Weinman)

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