Reed Elsevier to sell RBI

Division includes <I>Variety</I>

Reed Elsevier has announced that it plans to sell Reed Business Information, the magazine publishing division that includes Variety and Daily Variety, Broadcasting and Cable, Multichannel News, Publishers Weekly and New Scientist.

Reed Elsevier chief exec Crispin Davis said the move was aimed at “reducing exposure to advertising markets and cyclicality,” enabling the Anglo-Dutch group to focus on its core business of “subscription-based information and workflow solutions.”

“RBI is a well-managed, high-quality business as evidenced by the success of its online growth and the control of costs,” Davis said.

No talks are yet under way with potential buyers, and no timetable has been laid out for the disposal. “The precise method of divestment of RBI will be the subject of review in coming months,” said a company statement.

In 2007, RBI had revenues of $1.76 billion.

Tad Smith is chief executive officer of RBI-US.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety

Loading