Reed Business Information To be Sold Off; “Reducing Exposure To Cyclicality”
By Rafat Ali - Thu 21 Feb 2008 01:49 AM PST
Reed Elsevier (NYSE: RUK), the Anglo-Dutch B2B media giant, which just announced a $4.1 billion acquisition and its 2007 results, also dropped another big one: it is going to sell off its Reed Business Information arm, “reducing exposure to advertising markets and cyclicality”. RBI owns some big brands such as Variety, New Scientist, Publishers Weekly, Broadcasting & Cable, Multichannel News and other publications spanning media, construction, financial, science and many other B2B markets. It has divisions in US, UK, Netherlands, France, Australia and other countries. More details at PaidContent, where we’ll have updates from an earnings call.
Nikhil adds: In India, Reed Business Information owns 51 percent in Reed Infomedia India, a joint venture with Infomedia India. Network18 had picked up a 40 percent stake in Infomedia India last year.
Posted in: Magazines, Mergers & Acquisitions
