Back on October 14th, I did a post here on the seven mega-corporations that dominate publishing.
Two weeks ago today, Publishers Weekly had the following announcement:
"Reed Elsevier (the parent company of Publishers Weekly) has announced its intention to sell its B2B (business-to-business) magazine division, Reed Business Information."
Tad Smith, the CEO of Reed Elsevier said the conglomerate plans to move away from “advertising-dependent businesses.” The sale of RBI, which houses a number of trade titles, including PW and Variety, will, according to Smith, “commence immediately” though, he added, “it is unclear how long it will take to complete.”
Associated Construction Publications (one of the RBI magazines) said, "In 2007, RBI had revenues of UK906 million ($1.76 billion), of which around 60% comes from advertising and 30% was earned online."