Reed Business Information concludes divestment of U.S.-controlled circulation magazines, representing about two-thirds of portfolio's revenues, but retains Variety, other businesses
April 16, 2010
– In July 2009, Reed Elsevier announced that the RBI-US controlled circulation magazines and certain other print titles, representing approximately 45% of the revenues of RBI-US, were to be divested. Since then, the following titles, representing approximately two thirds of the revenues of the portfolio to be divested, have been sold in seven separate transactions:
On 30 November 2009, NewBay Media LLC acquired Broadcasting & Cable, Multichannel News and This Week in Consumer Electronics (TWICE).
On 16 February 2010, Canon Communications acquired Electronic Design News (EDN), Design News, Test & Measurement World and Packaging Digest.
On 26 February 2010, Media Source Inc. acquired Library Journal, School Library Journal and Library Hotline.
On 17 March 2010, Sandow Media acquired Interior Design, Furniture Today, Gifts & Decorative Accessories, Home Textiles Today, Casual Living, Home Accents Today, Kids Today and Playthings.
On 31 March 2010, two management buyouts took place for Tracom and In-Stat.
On 2 April 2010, Publishers Weekly was acquired by former PW publisher George Slowik, JR. and Partners.
To conclude the divestment process, the publishing operations of the remaining RBI-US controlled circulation titles are to be closed: Building Design+Construction, Chain Leader, Construction Bulletin, Construction Equipment, Consulting-Specifying Engineer, Control Engineering, Converting, Foodservice Equipment & Supplies, Graphic Arts Blue Book, Graphic Arts Monthly, HOTELS, Logistics Management, Material Handling Product News, Modern Materials Handling, Plant Engineering, Professional Builder, Professional
Remodeler, Purchasing, Restaurants & Institutions, Semiconductor International, Spec Check, Supply Chain Management Review and Tradeshow Week.
Variety, Marketcast and 411 Publishing, the RCD (Reed Construction Data) businesses and the Buyerzone lead generation business were not part of the divestment process and are retained. Jewelers’ Circular Keystone (JCK) has been transferred to Reed Exhibitions which runs the JCK Jewelry event and DM2 has been merged with Mardev in the UK to form a global list management operation.
About Reed Business Information-US
Reed Business Information-US http://www.reedbusiness.com/us is a leading business-to-business information provider of publications and web sites, as well as custom publishing, directories and research. Reed Business Information-US is part of Reed Elsevier (NYSE: RUK and ENL), a world leading provider of professional information and workflow solutions in the Science, Medical, Legal, Risk Management and Business sectors.