The majority of Reed Business Information’s remaining unsold magazines will be shuttered, parent company Reed Elsevier announced today.
This “concludes the divestment of US controlled circulation magazines,” the company said in a statement.
After selling off 21 titles in seven separate transactions representing 66% of the revenues of the titles for sale, Reed has decided to close all but six of the remaining properties.
Building Design+Construction, Chain Leader, Construction Bulletin, Construction Equipment, Consulting-Specifying Engineer, Control Engineering, Converting, Foodservice Equipment & Supplies, Graphic Arts Blue Book, Graphic Arts Monthly, HOTELS, Logistics Management, Material Handling Product News, Modern Materials Handling, Plant Engineering, Professional Builder, Professional Remodeler, Purchasing, Restaurants & Institutions, Semiconductor International, Spec Check, Supply Chain Management Review and Tradeshow Week.
A call to a Reed spokesperson was not immediately returned, but we will update when we have more. Patrick Kerr of Reed tells us that the company won’t be releasing numbers of affected employees, but “we’re trying to do what we can to reallocate people within Reed Elsevier as a whole.”