iiinova — where your digital self keeps evolving

I am not subscribed so can't read this, but it's good hearing I'm not the only one thinking that :) I was thinking before I can't think of a (recent) example of a major publisher going PE. Emerald -> CIG is the closest that comes to mind, but nothing else came to mind. One for the books?

My bets in order: 1. Private Equity sale ( 💰) 2. Demerger 3. Springer-Nature - but I am not betting money on that; I just like lists of 3.

I definitely read more and accidentally closed the tabs. Sorry!

000

Strong H1 performance led by momentum in Research. 2026 outlook updated | Springer Nature Group | Springer Nature

* www.informa.com/globalassets... * www.informa.com/globalassets... * group.springernature.com/de/group/med... * www.investegate.co.uk/announcement... * newsroom.wiley.com/press-releas... ** www.morningstar.com/news/allianc... They phrased things nicely and I am too tired to rephrase!

group.springernature.com

Strong performance with 6.2% underlying1 revenue growth and 7.7% underlying growth in adjusted operating profit (AOP) Research underlying revenue

100

- so certain numbers around revenue/value etc may be lower than this. (The 4% growth is also a target set, not a reported number yet.) There are also some considerations around the impact of one-off revenue generated by AI-licensing deals, which may be jazzing up the margins.

Some notes / caveats / issues * No bidders were named or suggested. * Demerging is also a likely option - from my limited knowledge, a sale to PE would seem better. BUT I am not a financial expert ;) * I am guesstimating some numbers/taking some from Informa's own reporting-

210

Where does that leave us? Private equity. T&F has high margins, recurring subscription and transformative agreement income, a distinct business to separate, and a sale to PE would face the least competition law risk. Overall, this might be an attractive option for Informa.

140

Wiley, whilst improving lately, could not afford a straight acquisition. It would be an equity-heavy merger and roughly double the company's size (in my guesstimate). All highly unlikely (and it feels like a risky move in the current climate - why would they want it?)

RELX (Elsevier) could easily afford it (net debt £8.7bn, 2.3x). But in 2026, it already spent £103m on acquisitions against £1.75bn on buybacks. BUT: A) It wouldn't align with the reported strategic priorities B) Clashes with Routledge C) Antitrust issues may be coming into sight? (I think?)

An approx. $5bn debt-funded deal would push that to roughly 5x, so it would need a big equity raise and competition clearance. In plainer, less finance-y words: I don't think it's happening, focussing on their existing, successful business would be the better move (in my view).

So, assuming it would not be a plain demerger and listing, who are the candidates and what are their options: SPN has the most convincing strategic case but the weakest financing. Leverage was 1.6x in June, inside its 1.5–2.0x target -

220

Additionally (also from Morningstar*) "Post-completion, pro-forma net debt to earnings before interest, tax, depreciation and amortisation is expected to remain below 3 times at year-end 2026, falling to below 2.5x by year-end 2027." A sale would pay that down immediately. A spin-off wouldn't 🤷‍♀️

If I were a guessing woman (which I am!) I would say that a cash sale would be preferable for Informa. From Morningstar: "Informa said it will pause its current share buyback programme in order to redirect capital to fund the transaction."

First, what's up for grabs: T&F has revenue approaching $1bn (£671M - reported 2025), growing at ~4%, with a 36.6% adjusted operating margin in 2025. A personal, rough estimate (not a published figure) would put the value at approx. $4.0–5.5 bn (But I am NOT a financial expert)

Informa announced Tuesday that it will separate Taylor & Francis and pursue a £2.24bn deal for Clarion Events. The outcome of its review is due in March 2027. So who might buy / what might happen to T&F?

134

Siobhan @siobhanh.bsky.social · 24/09/2026

I should probably turn this into a LinkedIn post when I have a little more brainpower, but here we go. Some quick thoughts/speculation on the announced Taylor & Francis-Informa split alongside the £2.24bn Clarion Events deal, after a quick browse of the numbers and reports 🧵

11210

See also: lunchtime shower to help you calm down and feel 25% less emotionally grimey :D

Mark Hebden @unionlib.bsky.social · 14/09/2026

Reposted by Siobhan

This goes for UNISON members too. Absolutely disgusting that Brighton would derecognise the only voices for staff at this prestigious organisation.

034

Reposted by Siobhan

Count Binface @countbinface.bsky.social · 12/09/2026

Riddle me this. If somebody donates £36 million to a political party and £5 million to its leader, how is the £5 million not political? Asking for a parliamentary standards commissioner.

8551051298

Reposted by Siobhan

Vicky Blake UCU (she/her) @vickyblake.bsky.social · 10/09/2026

We are devastated by the loss of Professor Megan Povey, our much loved and respected comrade, friend, activist, former branch President, NEC member, negotiator, long serving committee member. She dedicated her life to social justice alongside a truly impressive science career. We remember her here:

264

Siobhan @siobhanh.bsky.social · 07/09/2026

One day on a TPE train and I instantly remember why I moved house to get away from them.

031

Siobhan @siobhanh.bsky.social · 05/09/2026

I cant believe they're protesting at the most strictly checked and controlled boat crossing as well. Do they know about passport checks at borders?

Siobhan @siobhanh.bsky.social · 05/09/2026

Let alone if youre a nanny in the British library with arthritis and a chisel! The real danger to our society!

Siobhan @siobhanh.bsky.social · 05/09/2026

Something something ziptying nannies at protests, something something those who work forces...

031

Reposted by Siobhan

Mark Hebden @unionlib.bsky.social · 04/09/2026

Nigel Farage saying he's done nothing wrong is like Fred West wondering why the police are digging up his garden

733377

Siobhan @siobhanh.bsky.social · 01/09/2026

I am not a greasy spoon gal (IBS), but Highland Laddie I've heard recommended many times and is open on a Monday. Generally, I would also recommend Leson, La Piola, Empire Cafe, Fern, Shokupan, Zaap Thai and browsing the kirkgate market.

210

Siobhan @siobhanh.bsky.social · 01/09/2026

I am personally also partial to Nesso, but there's definitely days when there's a good cook and days when there's a decent cook.

Siobhan @siobhanh.bsky.social · 01/09/2026

For eggs Benedict a lot of people really like Olive & Rye, Federal, Laynes. The latter two are definitely more expensive and Laynes and Olive & Rye being the 'most established' of the two. I had them at Moose Café once (ages ago) and it was nice.

Eric Schares @eschares.bsky.social · 31/08/2026

Reposted by Siobhan

🚨Update: Our analysis of global APC expenditure has now been expanded to cover more publishers (7 -> 14) and more years (2019-2025). We estimate $15B in APCs paid over seven years, $3.7B in 2025 alone. Elsevier crosses the $1B threshold by itself in 2025. arxiv.org/abs/2608.16322 #ScholComm

Line chart showing 5 biggest publishers from 2019-2025

6179148

Reposted by Siobhan

Anna @superteadrinker.bsky.social · 31/08/2026

Is anyone aware of a recent academic or grey literature article on the effects of the BL cyberattack? I am writing about fragility of digital infrastructure in libraries and lack of experience in knowing what to do in data loss situations...

101718

Reposted by Siobhan

Leonore (Lee) Carpenter @leecarpenter.bsky.social · 19/08/2026

In case you are an academic who is currently being gaslit into believing that you're a caveman who wants their students to be jobless if you resist allowing AI in your classrooms... I present to you Berkeley Law's response, which can be summarized as "Fuck off directly into the sun."

law.berkeley.edu

Artificial Intelligence Policy

Effective Summer 2026 Purpose Future lawyers may need to use artificial intelligence (“AI”) fluently. But the current state of the technology requires that AI use be coupled with the cognitive […]

231914802

Reposted by Siobhan

Ian Boudreau @ianboudreau.com · 19/08/2026

Meta's smart glasses aren't just for perverts! They are also for the most aggressively annoying people on the internet

261105138

Siobhan @siobhanh.bsky.social · 20/08/2026

It's okay, I have judged plenty for all involved, until I eventually got used to it and am now entirely neutral on it as a decor choice ;) Tbf she likes minimalism, natural colours and it did fit with the decor and house better (pains to admit).

000

Siobhan @siobhanh.bsky.social · 19/08/2026

(Also, soz if the tone comes off badly! Still not always my forte on the socials.)

010

Siobhan @siobhanh.bsky.social · 19/08/2026

Definitely! Sorry, didn't mean to imply it isn't ever disabling, more that it's more of a spectrum than sometimes acknowledged :) But I don't always find it helpful to immediately be classed in with 'disability' (only ever for bureaucratic reasons) or to have someone assume it disables me.

221

(Also oops realised that sounds very patronising in writing! I didn't mean to, more a 'things have changed a lot in the last 25 years since I realised something aint right' :'D )

010

support for the first time ever! And some aspects (e.g. certain sensitivities in autism) will not change, but it's likely that what appropriate support looks like will change over time, and that isn't something to feel guilty about. (Not in a 'you're cured way' obvs! That IS ableism!)

000

As a note: this isn't to invalidate anyone who isn't there yet or for whom it is new/who still needs all this! A lot of how I think about this is very 'long-term' :) and it needs to be in conversation/supportive. But I can see how it can feel 'hostile' to someone to whom it's all new who has-

100

Having brainworms often isn't a 100% static condition in the way that some physical disabilities are, it can be worse/better under specific circumstances and what works in one context may not work in another. And people can learn to work around things without harm, if given time and support!

Something for both sides of the fence: not every adjustment automatically needs to be granted! It's about *reasonable* adjustments - you need to be willing to discuss and be open to suggestions (all parties involved!). Sometimes adjustments can also look like trying things and slow reintroduction.

A controversial take; whilst for some people it is a disability, for others it isn't in terms of practicalities. Returning to my previous point, unlike many people learning there's something up in the last 5 years... I've had 25 years of practice; it's a fact of life for me - not a disability.

330

There's some very complex interplays between what we currently deem 'neurodivergence' and mental health (in the true meaning of the word, not 'wellness and crafts'). Quite often, you need to be addressing both / mental health before the neurodivergence.

There's also a major difference, in my experience, between people who received some kind of diagnosis/'formal something ain't right' recognition as children VS adults, going purely by age isn't always the best way to see who has the most experience adjusting/managing!

Mostly, the idea that there are a lot of 'one size fits all' solutions, in my experience, people have more differences than similarities when it comes down to the practicalities. E.g. most fidget toys get on my nerves/the sounds bother me, but there's an assumption they'll help everyone?

We've never quite pulled that off! But we did have an elected student housing officer who worked with the accommodation provider (meaningfully) and student building reps etc. instead of paid staff from a provider in-situ. It genuinely worked pretty well :)

100

I was... Untill I moved to the UK! UK SUs are very strange places to my "we bought our own bar and run our SU with no staff about anywhere" EU mind. Joined the union(s) as a grad student instead 🤷🏼‍♀️ But it's somehow even sadder to know it used to be different...

I've found SUs and both their elected officers and staff to be the most blindly supportive of whatever university management wanted and the most antithetical to student organising on campus. (And I'm still salty about the anti-union gag order I received when I was a student.)

... Whatever you do, don't donate" Windows XP for dummies" to your local library 😅!