PW: Reed Canada to Buy CBA Trade Show

After weeks of rumors, Reed Exhibition Companies Canada announced last week that it intends to purchase the Canadian Booksellers Association's Convention and Trade Show for an undisclosed sum. The purchase agreement will be finalized by the end of May.

"We have been working diligently to make this acquisition beneficial for CBA members and for all constituents of the Canadian-based book industry," John Lewinski, president of REC Canada, said. "We will still work closely with CBA to develop programs at the event that provide optimal resources for CBA members and, given the strength of our global book partners in the U.S. and worldwide, simultaneously provide new opportunities for the expanding Canadian-based book market," he added.

This year's CBA Trade Show will be held at the Metro Toronto Convention Centre from June 16-19. It will be managed by the CBA with some involvement and support from Reed. Although Reed is expected to fully own and manage the trade show by next year, the CBA will remain a key sponsor for the event. In addition, the trade show will continue to act as the CBA's major annual gathering and will include the Libris Awards.

"REC's combined knowledge of the book business and their prominence as a leader in the trade show industry worldwide made them a logical prospective buyer for the event," Sheryl McKean, CBA executive director, said.

The Reed-CBA relationship has a precedent in the U.S. publishing market. Reed purchased the remaining 49% interest in the American Booksellers Association Convention and Trade Exhibit in 1997, renaming the event BookExpo America.

Before the Reed purchase, there was a fear in the industry that many publishers would not attend the trade show since Chapters Inc.--Canada's largest bookseller--decided to run its own show, CHEX 2000, in September. Many publishers attribute 40%-60% of their business to Chapters. Although every publisher contacted by PW said they would attend the CBA show, some, such as HarperCollins Canada, admitted that they would scale back their presence at the event to be able to afford attending both.