PUBLISHING PROFITS IN "CONTINUING EDUCATION"

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP73-00475R000101820001-5
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 27, 2016
• Document Release Date: December 17, 2013
• Sequence Number: 1
• Publication Date: February 18, 1966
• Content Type: OPEN SOURCE

CI-AT
Declassified in Part - Sanitized Copy Approved for Release @ 50-Yr 2013/12/17: CIA-RDP73-00475R000101820001-5
FEB 1 8 1966
PUBLISHING -4"?? panded its courses, and more than
, quadrupled sales by 1965. He went on
Profits in "Continuing Education" to buy the Free Press of Glencoe,
Just before Christmas, nine years Inc., Ill., and Science Materials, Inc.;
ago, the bulletin board at the Crowell he also invested in Famous Artists
Coll) teThuilding in New York carried a". Schools of Westport, Esquire Inc., and
grimly humorous notice: "We reiret to
inform you that there is no Santa
Claus." Crowell Collier was folding its
two mass-circulation magazines, Collier's
and Woman's 11017W Companion, and
dismissing its ?employees. There was
speculation at the time that ? Crowell
Collier would soon follow its magazines
down the drain. Instead, says Chairman
Raymond C. Hagel, 49, the company
has "gone through a whole life cycle
in the book-publishing firm of Grosset
& Dunlap. In 1962, for less than $1,-
000,000, he bought Brentano's, the 16-
store chain of bookstores.
. Two weeks ago, Hagel made another
foray into what he describes as the
field of "lifetimVeontinuing education."
For about $5,000,000, Crowell Collier
bought the famed ,Berlitz Schools of
p
Languages, and Berlitz rib-rations,
Inc. Berlitz, which offers courses in 46
in less than a decade." Last week the`lariguTi&i,7is the innovator of a "total
immersion" teaching? technique that
drowns a student with 13 hours a day of
company announced record profits of
$9,292,000 on sales of $127,287,000
in 1965.
Crowell Collier achieved its come-
back by catering to the nation's ever-
growing appetite for knowledge. In
1960 the company bought, for $8,000,-
000 in cash and an undisclosed amount
of stock, the Macmillan Co., the U.S.'s
third largest college-textbook publisher.
Crowell Collier & Macmillan, Inc.,
as the firm is now known, currently;
commands 5.3% of the $561 millions
textbook market. Chairman Nagel, a
veteran of McGraw-Hill and the'
Scripps-Howard chain, who joined
Crowell Collier as a consultant in 1957,
next moved into another basic-educa-
tion marketing area: home study. For
$3,194,000 he bought a 96% share of
the LaSalle Extension University of
Chicago, a correspondence school, ex-
RAVID GARR
PUBLISHER NAGEL
Santa had a mighty thirst.
lessons, even at mealtimes. American
firms are sending more and more of
their men to Berlitz before sending them
overseas, and now provide 40% of the
firm's business, which last year amount-
ed to a tidy $5,000,000. In April. Ber-
litz plans to add a Far East division,
starting in Tokyo, to its American-chain.
As for Crowell Collier, which hardly
need worry about next Christmas,
Hagel predicts more additions to the
"continuing education" group.
Declassified in Part - Sanitized Copy Approved for Release @ 50-Yr 2013/12/17: CIA-RDP73-00475R000101820001-5