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Digital Platform ePals Acquires Carus

first_imgIn order to aid its move into the home subscription market, educational digital platform ePals Corporation acquires Carus Publishing Company, along with its magazine, book and retail assets. Under terms of the deal, ePals will pay $5 million in cash and $10 million in stock and will merge Carus into an indirect subsidiary.Carus’ 2010 revenues were $16 million and EBITDA was just under $1 million. The company’s net loss in 2010 was about $270,000.Carus Publishing Company includes the Cricket Magazine Group, Cobblestone Publishing and Open Court Publishing divisions. The Cricket Magazine Group houses 14 titles for children aged up to 14 years. Consumer subscriptions total 300,000, with institutional subscriptions bringing in 80,000 subs. The acquisition also includes Carus’ Ladybug iPhone app, as well as a content licensing business with three localized Chinese publications.ePals, which went public earlier this year, will have ownership of 600,000 paid subscriptions upon completion of the acquisition; this in addition to 7 million registered users in classrooms and homes in over 200 countries and territories. The company’s current content partners include National Geographic and the Smithsonian Institute. ePals’s digital Global Community is represent by brands like email program SchoolMail, communication and collaboration tool LearningSpace and e-mentoring program In2Books. Carus launched in 1887. Its flagship magazine, Cricket, debuted in 1973. In addition to its magazine and book sector, Carus’ portfolio also includes crafts, toys and gifts.More on this topic Printer Launches Updatable Mobile Magazine App Service Paste Returns? Music Mag Acquired, Set to Relaunch as Digital Edition Hearst Completes U.K. Portion of Lagerdere Acquisition Digital Newsstand Zinio.com Reports 154 Percent Growth in Transactions Over 2005 (posted 10/18) Quebecor Finalizes $55M Reader’s Digest Deal Former Meredith Exec Joins National Journal as PresidentJust In The Atlantic Names New Global Marketing Head | People on the Move This Just In: Magazines Are Not TV Networks BabyCenter Sold to Ziff Davis Parent J2 Media | News & Notes Shanker Out, Litterick In as CEO of EnsembleIQ Meredith Corp. Makes Digital-Side Promotions | People on the Move Four More Execs Depart SourceMedia in Latest RestructuringPowered bylast_img read more

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Veterans Invited To Free Breakfast At Wilmington United Methodist Church On November 10

first_imgWILMINGTON, MA — The Wilmington United Methodist Church (87 Church Street) is hosting a breakfast for all veterans to enjoy on Saturday, November 10, 2018 at 8am in Fellowship Hall. Come on by and enjoy the morning with free food and other veterans. RSVP with Susan at 978-658-4519.Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedIndian Classical Dance Workshop & Performance In Wilmington On August 23In “Community”SAVE THE DATE: Wilmington Methodist Church’s Annual Harvest & Holly Fair Set For October 26In “Community”Free Breakfasts For Veterans In Wilmington On November 10 & November 11In “Community”last_img read more