Reed Elsevier, which put most of its trade magazines on the block last summer after failing to sell the unit as a whole (see “PW, Playthings, Video Business for Sale”), has sold Library Journal and School Library Journal to Media Source, a roll-up funded by Riverside Company, a $3 billion private equity group.  Media Source already owns Junior Library Guild and Horn Book, which both target the library market. 

Reed is retaining ownership of Publisher’s Weekly, although there’s no sign it’s no longer for sale.  Former associate publisher Cevin Bryerman is the new publisher at PW; some other execs of the group will go with the transaction.