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Penguin Putnam

To Turn DreamWorks

Films Into Books

NEW YORK, NY/12/9/97-- Penguin Putnam Inc. has secured the rights to transform the first five animated feature films by DreamWorks Pictures into book formats with a suggested retail price of $4.00 or more.

The multi- year strategic license agreement with DreamWorks Consumer Products also includes an option to propose publishing programs for other DreamWorks properties,

including live action motion pictures, animated and live action TV programs and direct-to-video films.

The new partnership was announced by Douglas Whiteman, Executive Vice President of Penguin Putnam.

"We share DreamWorks' vision of making products we believe in -- books that delight and inform, that are creatively ground-breaking and commercially successful," said Whiteman. "This relationship allows Penguin Putnam to develop and extend DreamWorks properties in a broad range of publishing media."

"Quality storytelling is the foundation to the success of filmed entertainment," said Brad Globe, head of DreamWorks Consumer Products. "Our partnership with Penguin Putnam allows us to work together to build a library based on our films, with quality and innovation as key goals for each book."

Penguin Putnam is currently working on more than two dozen titles in support of the 1997-1998 motion pictures set for release from DreamWorks Pictures.

The first four books shipped in early November and are based on the film Amistad, directed by Steven Spielberg. The film is based on the true story of a mutiny on board the slave ship Amistad. Signet will publish a mass market paperback adult novelization written by Alexs Pate, the critically acclaimed

author of Losing Absolom. For younger readers, Puffin will publish a junior novelization by Joyce Annette Barnes, and Dutton plans a nonfiction account of the incident titled Amistad: A Long Road to Freedom by Walter Dean Myers. In addition, Plume will republish Black Mutiny by William Owens, a book that

served as one of the historical sources for the film. Amistad is set for release in December.

Penguin Putnam is also developing a range of titles and formats for Small Soldiers (Summer 1998). Directed by Joe Dante (Gremlins, Innerspace) and with special effects from Stan Winston Studio and Industrial Light & Magic (The Lost World: Jurassic Park), the film tells the story of a small town that is overtaken by artificially intelligent toys. Grosset & Dunlap plans six titles, including a movie storybook and a top secret dossier, all capturing the innovative look of the film.

In support of DreamWorks' first animated film The Prince of Egypt (Holiday 1998), Penguin Putnam is developing titles in at least a dozen formats, with age-appropriate content for both adults and children, and honoring the ground-breaking animation style of the film. A faithful retelling of the Biblical story of Moses, The Prince of Egypt is an epic film with themes of slavery, faith, and deliverance.

"Our goal is to make sure that all books capture a spirit of imagination and timelessness," said Anne McGrath, head of publishing for DreamWorks Consumer Products. "Our early work with Penguin Putnam demonstrates the scope and excitement of creating books for the first new movie studio in nearly seventy years." All titles will be positioned under a newly created DreamWorks Publishing imprint. The colophon is adapted from the DreamWorks logo.

DreamWorks SKG is a multi-faceted entertainment studio formed in October of 1994 by Steven Spielberg, Jeffrey Katzenberg, and David Geffen.

Penguin Putnam Inc. is a part of Pearson plc (OTC-Bulletin Board: PRSNY), the international media group.

Big To Develop

Books Based

On MGM Films

LOS ANGELES, CA and BOCA RATON, FL/12/8/97-- Tekno Books, a division of Big Entertainment, Inc. (Nasdaq:BIGE) has obtained rights to develop books based on film and television shows from the rich libraries of Metro- Goldwyn-Mayer Studios, United Artists Corporation, Orion Pictures Corporation, and Goldwyn Entertainment, Inc.

The agreement between Big Entertainment, Inc., and MGM Consumer Products

was announced by Mitchell Rubenstein, CEO, Big Entertainment. Boasting more than 4,000 films and 8,200 episodes of television programming, these libraries constitute the largest collection of post-1948 feature films in the world. The motion pictures contained in the libraries have garnered more than 185 Academy Awards(R), including numerous Best Picture Oscars(R).

"We are constantly looking for exciting opportunities to create extraordinary new products for our consumers," said Rubenstein. "This partnership with MGM will enable us to develop books based on the rich properties housed within the studio's burgeoning library of award-winning films and unforgettable television shows."

"Tekno Books' expertise in all realms of publishing will enable MGM to create new and exciting published products," said Beth Bornhurst, senior vice-president, MGM Consumer Products. "We will be exploring books based on our rich library as well as those based on new and upcoming properties."

Metro-Goldwyn-Mayer, Inc. is actively engaged in the worldwide production and distribution of entertainment products, including motion pictures, television programming, home video, interactive media, music, licensed merchandise, a 4,000-title film library, a 6,700-title home video library, and a significant television library. The company's operating units include MGM Pictures, United Artists Pictures, Orion Pictures, Goldwyn Films, MGM Worldwide Television Group, MGM Distribution Co., MGM Home Entertainment and Consumer Products Group, MGM Music, and MGM Interactive, among others. For more information on MGM, visit MGM Online at http://www.mgm.com.

Tekno Books, a division of Big Entertainment, a public company, is a leading book packager with more than 900 books produced to date, and over 150 more forthcoming under contract, collaborating with authors such as Tom Clancy, Tony Hillerman, Dean Koontz, Robert Ludlum, Anne McCaffrey and Scott Turow. These books have been published under more than 60 American imprints -- including Berkley Books, Doubleday, Random House, St. Martin's, Simon & Schuster, Viking Penguin, and Warner Books. For more information on Big Entertainment, visit http://www.bige.com .

Richard Weston of Major Clients Agency initiated the transaction and assisted in the negotiations.

Five Southern

Book Publishers

Form Alliance

12/97--Five independent publishing houses based in the South have established Five Points Publishers Group with the aim of increasing sales and profitability through joint marketing. The group held its first meeting earlier this month.

With combined annual net sales in excess of $6 million, the alliance includes August House Publishers in Little Rock, Ark; Crane Hill Publishers and Menasha Ridge Press in Birmingham, Ala.; Black Belt Press in Montgomery, Ala.; and John F. Blair, Publisher, in Winston-Salem, NC

While maintaining separate business and editorial operations, the firms will pool their sales forces, hold semiannual joint meetings, publish a joint catalogue, and combine advertising and booth space at trade shows.

Tribune Education

Acquires Control

Of Landoll, Inc.

12/97--Tribune Education, a division of the Tribune Co., this month will finalize its $80 million purchase of controlling interest in Landoll Inc., the nation's eighth largest children's book publisher.

Tribune Education will own 80.5% of Landoll, which has estimated revenues of $71 million for the year that ended June 30, 1997.

The company, founded in 1971 by Jim Landoll, has rapidly grown in recent years, including a 36.5% gain last year as a result of its expanded presence in the lower-priced end of the market. The Landoll line includes coloring books, activity books, storybooks, sticker books and educational books and puzzles.

Landoll will continue to operate in Ashland, Ohio as a stand-alone unit. Jim Landoll and Marty Myers will remain at the head of company operations, reporting to Robert Bosau, president of Tribune Education.

January Closing

Set for Hartcourt,

Steck-Vaughn Merger

CHESNUT HILL, MASS/12/97--The sale of Austin, Texas-based Steck-Vaughn Publishing Corp. to Massachusetts-based Harcourt General, Inc. is expected to close by January 1998.

After acquiring 82 percent of Steck-Vaughn in a June merger with National Education Corporation, Harcourt announced in September it would acquire the remaining stock.

Hartcourt General, Inc. is the parent company of Harcourt Brace & Co., Holt, Rinehart and Winston, The Psychological Corp., and WB Saunders.

Landmark

Guidebooks

Buys Falcon

HELENA, MONT/12/97--Norfolk, VA-based Landmark Guidebooks has acquired Falcon Publishing Company of Helena, Montana.

Bill Schneider will continue as publisher of Falcon, and no changes will be made in the 48-member staff.

Established in 1978, publishes regional recreational guides. Falcon has a 320-title backlist and a 90-title frontlist this year. The line includes the well-known FalconGuides.

Landmark Guidebooks is a subsidiary of media conglomerate Landmark Communications, of Norfolk, Va. Privately-held Landmark Guidebooks was formed earlier this year with its purchase of The Insiders' Guide (now Insider's Publishing) in Manteo, NC Insiders' and Falcon 's editorial operations will continue to operate separately, while marketing and distribution will be combined in Helena.

NBC, Dow Jones

Sign Global TV

& Internet Pact

NEW YORK, NY/12/9/97--NBC and Dow Jones & Co. have signed an agreement giving CNBC worldwide television rights to all Dow Jones editorial material and resources. The agreement combines the two companies' television operations in Europe and Asia and establishes a collaborative effort in the US.

Dow Jones has agreed to pursue cable, satellite and other television business-news ventures through its association with CNBC. Bob Wright, president and CEO of NBC, and Peter Kann, chairman and CEO of Dow Jones & Company made the joint announcement in New York.

In the US, CNBC and Dow Jones will jointly provide business news programming on CNBC. CNBC will be re-branded CNBC: A Service of NBC and Dow Jones' Worldwide. Internationally, NBC and Dow Jones will launch signature business information channels under the CNBC banner in Asia and Europe by merging their existing television services into regional services. On the Internet, the two companies will develop a series of interactive business news and information initiatives.

Scripps TV

Unit Looks

For A Buyer

12/8/97--The E.W. Scripps Co. is seeking a buyer for its Scripps Howard Productions unit, in a move to focus the company's attention on non-fiction programming. The production subsidiary supplies fiction programming, such as original made-for-TV movies, miniseries, network news and documentary specials to three major broadcast networks.

Scripps will continue to operate its Knoxville, TN-based Cinetel Productions, and Cinetel will adopt the Scripps Howard Productions name when a sale is completed.

Santa Monica-based Scripps Howard Productions has a library of 20 hours of programming, some 20 additional hours of original network programming in script development and two network movie franchises. The E. W. Scripps enterprise also includes 20 daily newspapers, nine network-affiliated television stations, the Home & Garden Television and Food Network cable networks, and United Media, a worldwide syndicator and licenser of news features and comics.

NY Post

Buys More

Book Rights

The New York Post is now buying rights to publish excerpts of two books per week. In the past, the publication has carried only one title Sunday.

In greatest demand are popular nonfiction titles , such as "Dilbert's Future" (HarperBusiness), "The Rosie O'Donnell Story" (Birch Lane), and Martha Stewart 's "Just Desserts" (Morrow).

October Films

Begins Own

Book Imprint

12/11/97--October Films will begin its own book imprint, using Penguin Books as the worldwide distributor. The imprint will be similar to Miramax Films' several-year-old book line, distributed by Hyperion. Miramax and Hyperion are both owned by the Walt Disney Company. October plans to transform screenplays and novelizations of upcoming films into books, a trend that has gained momentum in the last few years.

Addison Wesley

Cuts 100 Jobs

In Downsizing

MENLO PARK, CA/ 12/97--Addison Wesley Longman, the nation's leading textbook publisher will lay off 100 workers in its Scott Foresman-Addison Wesley division at Menlo Park, California. The job cuts are the result of consolidating all Addison Wesley school textbook divisions in one location. The move is expected to save the company $3 million in annual overhead.

German Company

To Sell Paramount

Films In Europe

12/97--Viacom's Paramount Pictures and Paramount Television products will be distributed to German-speaking areas of Europe by the Kirch Group, a major German media company.

Kirch Group will carry MTV Europe, VH-1 Germany, a Nickelodeon programming block, and selected future Viacom programming networks on its new digital pay TV service.

As part of the agreement, Kirch will have access to a vast library of programming through Viacom's Spelling Entertainment. Spelling's miniseries, TV series and some feature films will be offered by Kirch in German territories for free and on pay television channels.

Viacom, one of the world's largest entertainment and publishing companies, also owns

Simon & Schuster in the USA. Simon & Schuster UK, the European publishing operation of Simon & Schuster's US-based Consumer Group, publishes approximately 300 titles per year.

Simon & Schuster Consumer Group Europe is the fastest-growing publisher in the UK, publishing more than 230 titles per year.

ABA Plans

Open Forums

With Booksellers

12/97--The American Booksellers Association next year will hold about a dozen open-forum meetings with booksellers throughout the US to talk about major issues in bookselling.

The meetings will take place between January and BookExpo America in May. A schedule will soon be released by the ABA.

Random House

Launches Online

Site for Children

NEW YORK, NY/12/11/97--Random House Children's Publishing has launched Kids@Random (http://www.kidsatrandom.com), a web site dedicated to young readers. Featuring Internet games, book reviews, author information and much more, the site will be a comprehensive place to visit, play and interact with other young readers as well as a destination for parents looking for information on books.

Random House Children's Publishing is one of Americas foremost publishers of quality literature for children of all ages. It is comprised of Children's Publishing, (including the hardcover imprints Random House, Crown, and Knopf Books for Young Readers, and the paperback imprints, Dragonfly Books, and Knopf Paperbacks); Children's Media; and Random House Entertainment.

People

On The Move

In Publishing

HARCOURT PROMOTES NELSON/12/8/97--Harcourt General, Inc. (NYSE:H) has promoted George W. Nelson, Jr., 50, from vice president to Senior Vice President of Technology and Distribution at the publishing subsidiary, Harcourt Brace & Co. Harcourt General, Inc. is a leading global multiple-media publisher and service provider to established educational, trade, and professional markets. The Company also is a leading specialty retailer through controlling interest in The Neiman Marcus Group (NYSE:NMG).

GODOFF REPLACES EVANS AT RANDOM/12/97--Ann Godoff, editor-in-chief of the Random House Trade Publishing Group, has been named president of the trade group. She succeeds Publisher and President Harold Evans, who is leaving to become editorial director and vice chairman of Mort Zuckerman's publications. which include the New York Daily News, US News & World report and others. Ann Godoff retains her title as editor-in-chief, and has also been named an executive vice president and a member of the executive committee.

VIACOM NAMES SHEA SR. VP/12/2/97: Martin M. Shea has been named Senior Vice President, Investor Relations at viacom Iinc. (AMEX: VIA and VIAB). Shea, who assumes the new post January 1, will be responsible for all investor relations functions, including shareholder communications. he succeeds Vaughn A. Clark, who is leaving Viacom to spend more time iwth his family.

DIGEST SEARCHES FOR CEO12/11/97: Reader's Digest Association, based in Pleasantville, NY, expects to complete its search for a new chairman and chief executive by July, 1998.The new chief likely will come from outside the company and will have a publishing background.

ABC'S GREEN JOINS CNN/12/97--ABC political correspondent Jeff Greenfield is leaving his 14-year post to join CNN as anchor of a new news magazine show.

THOMAS HEADS INFOWORLD/12/9/97--San Mateo, CA-based InfoWorld Media Group has named Mike Thomas general manager of InfoWorld Electric (http://www.infoworld.com). Thomas will lead efforts to strengthen InfoWorld's leading position in the technology news industry. In addition to managing the company's Web operations, he will work closely with InfoWorld's editorial, sales and circulation teams to improve InfoWorld Electric's ability to serve readers and advertisers.

Anne Frank

Biography Tells

New Information

A new biography to be released by Viking in mid-1999, will reveal fresh information about the life of Anne Frank. Research by Carol Ann Mullen reveals new information about the world- famous young diarist. The work reportedly contains letters Anne wrote to friends before the Nazi invasion, an interview with the German soldier who arrested the Frank family in their attic hiding place, and interviews with concentration camp survivors who knew the family.

Audio Book Club

Reports Impressive

Q3 Sales Increases

BOCA RATON, FL/12/8/97--Audio Book Club, Inc. (AMEX: KLB) reported substantial increases in sales and dramatically increased gross profit for the third quarter and nine month period ending September 30, 1997.

For the third quarter ended September 30, 1997, the Company's reported a 117% increase in gross sales to approximately $3.8 million versus $1.7 million a year ago. Gross profits as a percentage of net sales increased significantly for the third quarter to 55.06% from 10.81% a year ago. Net loss for the third quarter decreased significantly to approximately $1.3 million, or $(0.41) per share, compared to a net loss in the third quarter of 1996 of approximately $2.4 million, or $(0.71) per share.

The Company reported gross sales of approximately $10.3 million for the nine months ended September 30, 1997 versus approximately $6.0 million a year ago. Gross profit as a percentage of net sales increased from 24.73% for the nine months ended September 30, 1996 to 47.79% in 1997. Net loss for the nine months decreased significantly to approximately $2.5 million, or $(0.76) per share, versus a net loss of $4.9 million, or $(1.47) per share, for the comparable period in 1996.

Norton Herrick, Chairman and CEO, stated, "We are pleased to announce our first results

since our IPO in October, and are encouraged by the figures which show a substantial increase in sales and dramatically improving margins. These results are exactly what we are looking for in a growing business. The last few months have demonstrated a strong demand for our audio books from our members, a significant increase in membership and an increase in visitors to our web site."

John Wiley

Posts Big Gain

In Net Income

John Wiley & Sons reported a 61% gain in net income for the second quarter of fiscal year 1998, ended October 31, 1997. The publisher posted net revenues of $5.6 million, or $.34 a share. The gains were attributed to improvement in each of the company's core businesses, which include college, professional/trade, and scientific, technical, and medical publishing.

Scholastic

Turnaround

Gains Steam

Scholastic Corporation (NASDAQ: SCHL) showed continued progress in its turnaround efforts during the second fiscal quarter ended November 30, 1997. Net revenues increased 4% to a record $354.8 million. The gains were attributed to strong growth in revenues from book clubs and book fairs.

NY Times

Improves

'97 Earnings NEW YORK, NY/12/11/97--The New York Times Company (NYSE: NYT) reported an improved outlook for its 1997 earnings, as a result of strong advertising performance by all of its major properties during the fourth quarter.

The Company currently estimates its 1997 earnings per share to be in the range of $2.47 to $2.57, adjusted to exclude all special items. The earnings on a comparable basis were $1.91 in 1996. Such items include, among other things, buyouts in connection with voluntary workforce reductions and a tax settlement reached in 1997.

The New York Times Company is a diversified media company including newspapers, magazines, television and radio stations, and electronic information and publishing. The Company, which had 1996 revenues of $2.6 billion, publishes The New York Times, The Boston Globe and 21 regional newspapers; publishes three magazines; operates eight network-affiliated television stations and two New York City radio stations. It also operates other media services.