We all know the sun isn’t shining as brightly as it could on Reed Business Information, the Variety publisher that put 23 magazines out to pasture last week. But now Folio is reporting that the company may never have intended to sell any of those publications in the first place:
Following the announcement Friday, a Reed spokesperson told FOLIO: the company would be open to discussions with potential purchasers of the intellectual property associated with any of the closed down brands. But questions came up regarding whether those titles were ever actively up for sale.
“So far as I know they were never brought to market,” says Frank Anton, CEO of construction trade publisher Hanley Wood. Among the titles shuttered by RBI were Building Design+Construction, Construction Bulletin and Construction Equipment. “Had they been, Hanley Wood would have taken a look at select assets in RBI’s construction portfolio.”
Folio also quotes an anonymous source who said RBI may have let many publications die because it didn’t want to compete with whoever would buy the titles. Adam Schaffer tells Folio he approached RBI about buying one of the company’s titles, but never got an answer. A Reed spokesperson told Folio that the company would have preferred to sell the magazines.