Word: textbooks
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Dates: during 1980-1989
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...first major sale of assets since Time Inc. acquired Warner Communications last July, the merged company agreed last week to shed a subsidiary that had turned out to be a disappointing performer. Time Warner said it will sell its Illinois-based textbook publishing unit, Scott, Foresman, for $455 million to Harper & Row Publishers, which is owned by media baron Rupert Murdoch's News Corp. When it bought Scott, Foresman in 1986, Time paid $520 million and assumed $50 million in debt. Time Warner's losses on the Scott, Foresman investment will total $175 million, which will be written...
Time Warner had decided that the textbook division failed to fit well with its other publishing and entertainment businesses. At the same time, the sale will help reduce the $12 billion in debt that the company will assume when its merger is completed, sometime around year...
...famous Scopes trial ended 64 years ago, but educators are still grappling with the impassioned evolution vs. creation debate. Last week California's board of education adopted new teaching and textbook guidelines and, responding to Fundamentalist pressure, removed a reference to evolution as "scientific fact." But overall the document strongly supports teaching of evolution. California accounts for 11% of all U.S. textbook sales, and the guidelines could have wide impact...
...similar battle has been taking place in Texas, which has the country's No. 2 textbook market. The state board of education drafted guidelines requiring positive teaching about evolution for the first time. But in March, Bible Belters won a last-minute insertion that in addition to evolution, science classes should cover "other reliable scientific theories, if any." That opens the door to "scientific creationism," which offers evidence for the immediate creation of life-forms but does not refer to the Bible. Publishers are now trying to tackle the new requirements as they prepare science textbooks for submission to Texas...
...Coop, which houses the nation's largest textbook department, made $64 million in sales and netted a profit of nearly $4 million last fiscal year, Argeros said. It employs 600 people and has about 115,000 members...