News Corp (NASDAQ:NWS) (NASDAQ:NWSA) (ASX:NWS) (ASX:NWSLV) announced
today that it has sold its Amplify Insight and Learning businesses to a
management team supported by a group of private investors. Financial
terms of the transaction were not disclosed.
As a result of the sale, beginning in First Quarter of Fiscal 2016, News
Corp will reflect the results of its Digital Education segment as
discontinued operations.
"We are extremely proud of the crucial work that the Amplify team has
done to create a digital platform for the future. It is tragic that so
many children are digitally literate but functionally illiterate, and it
has been the cherished vision of all at Amplify to ensure that students,
regardless of their background, have access to a contemporary curriculum
delivered on a contemporary platform,” said Robert Thomson, Chief
Executive of News Corp. “There is no doubt that the foundations laid by
the creative team at Amplify will be profoundly influential in coming
years as both curriculum and classroom evolve. All who have been
involved in the Amplify business at News Corp should be conscious of
their contribution to education in the US and beyond."
Amplify was founded in 2011 and is a leading provider of educational
analytics and assessments. To date, Amplify has supported more than
200,000 educators and 3 million students in all 50 states, empowering
teachers to offer more personalized instruction, so that students become
more active, engaged learners. Amplify’s best-in-class digital
curriculum targets K-12 reading, math and science, using immersive and
rigorous learning experiences and a comprehensive portfolio of
educational games.
As previously announced, Amplify has ceased marketing tablets to new
customers, and support will continue to be provided to existing tablet
customers.
Forward-Looking Statements
This document contains certain “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management’s views and assumptions regarding
future events and business performance as of the time the statements are
made. Actual results may differ materially from these expectations due
to changes in global economic, business, competitive market and
regulatory and other factors. More detailed information about these and
other factors that could affect future results is contained in News
Corp’s filings with the Securities and Exchange Commission. The
“forward-looking statements” included in this document are made only as
of the date of this document and we do not have any obligation to
publicly update any “forward-looking statements” to reflect subsequent
events or circumstances, except as required by law.
About News Corp
News Corporation (NASDAQ:NWS) (NASDAQ:NWSA) (ASX:NWS) (ASX:NWSLV) is a
global, diversified media and information services company focused on
creating and distributing authoritative and engaging content to
consumers throughout the world. The company comprises businesses across
a range of media, including: news and information services, book
publishing, digital real estate services, and cable network programming
and pay-TV distribution in Australia. Headquartered in New York, the
activities of News Corporation are conducted primarily in the United
States, Australia, and the United Kingdom. More information is available
at: http://www.newscorp.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150930006856/en/
Copyright Business Wire 2015