Reed Takes Magazines Off Market
Variety, PW, Playthings, Video Business
Published: 12/11/2008 01:05am
Reed Elsevier has ended its efforts to sell Reed Business Information, the publisher of Variety, Publishers Weekly, Playthings, Video Business, and around 100 other trade magazines and Websites. “The board has judged it not possible to structure a transaction on acceptable terms at this time,” the company’s statement said. Prices had dropped to around half the originally projected $2 billion price tag for the group (see “Falling Prices May Kill Reed Business Sale”).
Reed said that it will attempt to sell the unit again in the “medium term,” when conditions improve.
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