PW: Pearson Dumps Mindscape

Mindscape had revenues of approximately $130 million in 1997, compared to sales of $119 million in the fiscal year that ended March 31, 1993. Pearson acquired Mindscape in multimedia's heyday and with the intention of having the software publisher work with its book publishing subsidiaries to produce a variety of electronic publishing products. That strategy never took hold, however, and Mindscape struggled for the entire time it had been owned by Pearson. Pearson CEO Marjorie Scardino said, "We are selling Mindscape because we believe it is always going to be worth more to a company such as The Learning Company than it would be to Pearson."