Chinese Government Cracking Down on Piracy? (JW.A 1Q06 Conf Call Quotes)

Sep. 9.05 | About: John Wiley (JW.A)

President and CEO Will Pesce of book publisher John Wiley & Sons (NYSE:JW.A) had the following to say during management's Q1 2006 earnings results conference call:

....A few years ago, I started talking more about China, because of the - - our Company's role as well as the Trade Association and others and working with the Chinese government, we've made some real progress with piracy there. Meaning that one of the pirates that actually used to make copies of all STM (Editor: medical) Journals and provide them to the research community was put out of business by the government. And as a result, we're getting revenue now. And China went from a market where they were gaining access to the material and not paying for it. And I believe the latest information, I've got a source that it's about an $8 million or so STM journal business and growing nicely for us from virtually nothing a few years ago. So Asia is strong for that business.

(Quotes are from the CCBN StreetEvents transcript.)

JW-A chart.