Reed to restructure publishing and information business

Source: Stock Market Digital

Date :22/02/2008 12:20:09

Reed Elsevier, the Anglo-Dutch publisher, has announced plans to restructuring its publishing and information businesses with plans to cut its exposure to print and advertising.

The publisher will concentrate on higher-growth online and subscription activities, it said Thursday.

Reed Business Information

Reed has put up for sale the magazine titles of its Reed Business Information division, which range from Variety, the Hollywood bible, to Farmers Weekly in the UK.

Reed Business Information made revenues of £906 million last year. Around 60 percent comes from advertising and 30 percent was earned online.

The company said it would retain its related exhibitions business.

Despite this, the company cautioned, that difficult credit markets would make a quick sale unlikely and that it remained open to options such as a demerger or break-up of the magazine portfolio.

"We are open-minded on the method and timing," said Crispin Davis, chief executive, Reed Elsevier.

Trade magazine

The sale of RBI will mean two of the UK's biggest trade magazine businesses have changed hands in a matter of months.

In December, Emap’s B2B operation was sold to private equity firm Apax for £1billion and Guardian Media Guardian.

February 22, 2008