After weeks of speculation over the deal, an investor group formed by media private equity partnership Pluribus Capital Management and financial services company Guggenheim Partners just announced that it has purchased eight brands from The Nielsen Co., including the pubs The Hollywood Reporter, Billboard, Mediaweek, Adweek and Brandweek.
The new company, called e5 Global Media LLC, is said to have paid $70 million for the publications and events, which include the ShoWest and other trade shows. Pluribus was founded by James A. Finkelstein, whose family owns the “Who’s Who” series of books; George Green, the former president of Hearst Magazines International; and Matthew Doull. The New York Post‘s Keith Kelly reported today that another rumored partner in the deal, Rupert’s son Lachlan Murdoch, was replaced by former Bear Stearns chief Alan Schwartz, who runs Guggenheim. Finkelstein will serve as chairman of e5, the company said.
Meanwhile, Nielsen maintains that it will remain committed to its remaining brands. “Divesting these titles allows Nielsen to focus its investment on its core businesses and those parts of our portfolio that have the greatest potential for growth, including our leading trade show group,” Nielsen Business Media president Greg Farrar said.
Full release, after the jump
Billboard buying group changes –New York Post