Never a dull moment, as Publishers Weekly has gone up for sale:
Reed Business Information is putting Publishers Weekly and its affiliated publications, Library Journal and School Library Journal, up for sale. The sale of the group is part of RBI’s strategy to divest most of its trade magazines in the U.S. Last year, Reed Elsevier, parent company of RBI, tried to sell all of RBI but dropped the sale when it couldn’t get the price it wanted in a depressed market for media properties. In a related announcement, Tad Smith, CEO of RBI US, has resigned. John Poulin has been named acting CEO and he will head the sales process.
The sale is part of Reed-Elsevier’s attempt to divest itself of most of its trade magazines, according to Folio:
Among the magazines for sale are Broadcasting & Cable, Mutichannel News, Professional Builder, Publishers Weekly and Tradeshow Week.
Reed said it will retain its Reed Construction Data, RSMeans, Variety, MarketCast, LA411 and BuyerZone properties. The company put RBI on the block in February 2008.