Free Republic

The global education company Pearson has landed a major contract to administer tests aligned to the common-core standards, a project described as being of “unprecedented scale” in the U.S. testing arena by one official who helped negotiate it. The decision to award the contract, announced Friday, was made by a group of states developing tests linked to the common core for the Partnership for Assessment of Readiness for College and Careers, one of two main consortia of states creating exams to match the standards. Pearson is expected to perform a broad range of duties under the contract, including development of...

Former President Barack Obama and his wife Michele have signed a multi-million book deal with Penguin Random House. Terms of the deal were not released but Financial Times reported bidding for the two-book deal had reached more than $65 million, a record amount for presidential memoirs.

Pearson PLC said Wednesday that Chief Executive John Fallon plans to retire next year, and that it has agreed to sell its remaining 25% stake in Penguin Random House to Bertelsmann SE & Co. KGaA for $675 million. The London-based education publisher PSON, -0.46% said Fallon will retire in 2020 once a successor has been appointed. The company will consider both external and internal candidates as part of a succession process, it said. Pearson said the sale of its remaining stake in Penguin Random House to its partner is in line with the company’s simplification strategy and follows the disposal...