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BREAKING NEWS & VIEWS
Reed Elsevier to Divest Reed Business Information
London-based Reed Elsevier announced today it has plans to divest Reed Business Information, its b2b magazine publisher which has offices in the U.S. and abroad. The announcement comes as a result of the company’s preliminary financial results statement for 2007. Supposedly the divestiture is one aspect of what the company calls a “major reshaping” of its portfolio, including its sale of Harcourt Education. England’s Telegraph newspaper reported last Sunday that Reed Elsevier was planning to cut 1,000 jobs. An RBI spokesperson could not immediately be reached for comment. Reed Business Information reported $1.9 billion in revenue for 2007, up 2 percent from revenue in 2006. The company also announced that it has acquired ChoicePoint, an insurance industry risk management firm. Terms of the deal were not disclosed. Reed Business Information publishes more than 80 b-to-b magazines, more than 55 Web sites, and produces a number of industry events. Its most well-known publication in the U.S. is Variety, a premier source of information for entertainment professionals. See min's b2b top story 2/22/2008 If you have any breaking news please contact Amy Novak at anovak@accessintel.com |
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