Reed Elsevier Puts Reed Business Information Up for Sale

By SLJ Staff -- School Library Journal, 2/22/2008 1:29:00 PM

Reed Elsevier, the Anglo-Dutch media company, plans to sell Reed Business Information (RBI), the magazine publishing division that includes School Library Journal, Library Journal, Publishers Weekly, and Variety.

Crispin Davis, Reed Elsevier’s CEO, says the move is aimed at “reducing exposure to advertising markets and cyclicality,” enabling the company to focus on its core business of “subscription-based information and workflow solutions.” Tad Smith is chief executive officer of RBI-US.

Reed is not yet in talks with interested parties. “We don’t have any particular buyer in mind, we do think there will be a wide and strong level of interest in this business both from strategic and private equity buyers, we are very open minded on who and when,” says Davis, adding that given current market conditions he might have to be patient about the timing of a signed deal.

What does all this mean for SLJ? Ron Shank, the vice president and group publisher of Reed Business Publishing Group, says, “We're moving ahead on schedule with innovative programs that enable our market partners to promote their products and services to our universe of readers and online communities."

Shank adds that "Publishers Weekly, Library Journal, and School Library Journal are focused on expanding their peerless coverage of the news and trends in their respective sectors, providing insight and understanding of the market events that shape our businesses and continuing the indispensable review of books and content products created for sale to consumers or acquisition into library collections.”