Reed Puts Information Group on the Block

-- Publishers Weekly, 2/21/2008 7:34:00 AM

Reed Elsevier (the parent company of Publishers Weekly) has announced its intention to sell its B2B magazine division, Reed Business Information. In a memo to Reed staffers, CEO Tad Smith said the move is part of Reed Elsevier's 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.”

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