B2B publisher Reed Business Information (RBI) is putting Library Journal and its affiliated publications, School Library Journal and Publishers Weekly, up for sale. The transaction is part of RBI’s strategy to divest most of its trade magazines in the US. A few, including Variety, will not be sold.
In a related announcement, Tad Smith, CEO of RBI US, has resigned. John Poulin has been named acting CEO; he will head the divestiture.
Last year, Reed Elsevier, parent company of RBI, tried to sell all of RBI but dropped the plan when it could not get the price it wanted in a depressed market for media properties. While Reed would prefer to sell the package of some 50 titles to one buyer again, it is predicted that, given the market, the deals likely will be piecemeal.
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