According to News Corp. CEO Robert Thomson, the company is in “advanced talks” to sell Amplify, its digital education division.
Amplify has simply not taken off like News Corp. execs thought it would. During News Corp.’s latest earnings report, the company said Amplify accounted for an impairment charge of $371 million.
“The recent selling season for the new school year for our digital ELA curriculum overall has been disappointing and the marketplace in digital curriculum has been much slower to develop than we initially expected,” said News Corp. CFO Bedi Singh, during a conference call.
Amplify, a tablet-based education platform, was launched in 2012. It is led by former New York City Schools chancellor Joel Klein.