Publisher Reed Elsevier has announced that it has concluded divestment of US controlled circulation magazine titles.
In July 2009, Reed Elsevier announced that the RBI-US controlled circulation magazines and certain other print titles, representing about 45 percent of the revenues of RBI-US, were to be divested. Since then, several titles, representing approximately two thirds of the revenues of the portfolio to be divested, have been sold in seven separate transactions.
NewBay Media LLC acquired Broadcasting & Cable, Multichannel News and This Week in Consumer Electronics (TWICE) in November 2009. Canon Communications acquired Electronic Design News (EDN), Design News, Test & Measurement World and Packaging Digest in February 2010. In the same month, Media Source Inc. acquired Library Journal, School Library Journal and Library Hotline. In March 2010, Sandow Media acquired Interior Design, Furniture Today, Gifts & Decorative Accessories, Home Textiles Today, Casual Living, Home Accents Today, Kids Today and Playthings. Later that month, two management buyouts took place for Tracom and In-Stat. Further, earlier this month 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.
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.
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