Reed Business Information Sold German Unit in March

Hobbled B2B titan and Variety publisher Reed Business Information made huge waves last week when it jettisoned 23 publications, and today paidContent reports that parent company Reed Elsevier has also spun off its German publishing segment to European Professional Publishers Group.

Reed’s German titles included Digital Production, Recycling and Detail.

In an interim management statement released today, Reed Elsevier said business conditions that had hindered the company at the end of 2009 would persist at least through the first half of this year. Reed Business Information was no exception:

Data services continue to grow. Advertising markets however remain difficult and late cycle effects are putting pressure on print subscriptions. Revenues are expected to be lower in 2010 although the underlying rate of decline is moderating as comparatives get easier. Reengineering of the portfolio, including the sale and closure of US controlled circulation titles and the sale of RBI Germany, and actions to reduce the cost base continue.

Despite the heavy bloodletting over at RBI, looks like the tough times aren’t exactly over.

Publish date: April 20, 2010 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT