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Posts Tagged ‘Multichannel News’

Memo: RBI Begins To Shutter Trade Pubs It Can’t Sell

MBT.jpgThe closures have begun at Reed Business Information‘s U.S. trade magazine properties.

On the last day of the year, RBI US CEO John Poulin sent a memo to staffers, updating them on developments in RBI’s efforts to sell off a bulk of its U.S. holdings.

Although some titles, like Broadcasting & Cable, Multichannel News and TWICE, have been sold, Poulin said that some remaining pubs would likely face the axe:

“We are in advanced discussions to sell a number of titles to separate purchasers and, if these are satisfactorily concluded, expect to make announcements on these sales in the next few months. We have not been able to sell the business as a whole and this unfortunately will result in title closures and job losses across the business during the first half of the New Year.”

Today, we got word of some news of closings. According to an internal memo that went out today from Jeff DeBalko, president of business media, RBI has closed Manufacturing Business Technology (or MBT), Industrial Distribution and Video Business, effective today. What’s more, DM2, which manages targeted B2B postal and e-mail lists, will no longer manage non-RBI lists, starting in April.

Requests for comment from RBI have not yet been returned An RBI spokesperson confirmed the closure news, but declined to comment on whether anyone would be let go, so we’re not sure how many people will be affected by this change. Know anything? Leave a tip in the box on the right or send us an email.

Full memo after the jump

Earlier: RBI Sells Broadcasting & Cable, Multichannel News And TWICE

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Layoffs Hit Newly Acquired Multichannel News

multichannel.jpgTwo weeks after NewBay Media CEO Steve Palm told us he was looking to hire, not fire, staffers from his newly acquired magazines, we have heard of layoffs at Multichannel News.

A tipster tells FishbowlNY that at least two people were let go yesterday from the cable industry trade publication: executive editor George Vernadakis and design director Maria Hernandez. And where there are layoffs at one pub, there are likely to be at the other titles acquired by NewBay, Broadcasting & Cable and TWICE.

If you have any information, send us an email or leave a tip in the box at right.

Following up on our interview earlier this month, we reached out to Palm for comment on the layoff news. He has not yet responded to our request. Update: A NewBay spokesperson sent us a statement, confirming layoffs at all three pubs:

“Working with the managers of the acquired brands, it was determined that several positions overlapped with positions already existing within NewBay. Due to this redundancy and cost considerations, a small number of B&C, Multichannel News, and TWICE employees will not make the transition. For those team members affected by this decision, we thank them for their efforts on behalf of TWICE, B&C and Multichannel. These are talented individuals who we wish the best. As previously announced, NewBay continues to actively seek candidates for our online, finance, and circulation departments as a result of the acquisition.”

We’ll update you as the story develops.

Previously: NewBay Media CEO Steve Palm On New Acquisitions: We’re Looking To Hire, Not Fire Staffers

NewBay Media CEO Steve Palm On New Acquisitions: We’re Looking To Hire, Not Fire Staffers

Steve_Palm.jpgEarlier this week, we learned that publisher NewBay Media had picked up three trade titles from Reed Business Information, Broadcasting & Cable, Multichannel News and TWICE, for an undisclosed amount.

When any publication is sold, the obvious questions surface. Namely, what will happen to the staff? (Just one look at the bloobath at post-Bloomberg BusinessWeek can tip you off to the type of gutting that can occur after a sale.) One tipster told us the staff of the three sold titles would learn their fates by the end of the year. But we had a chance to speak with NewBay’s CEO, Steve Palm (left), who told us that immediate cuts were not expected.

“These titles are complementary to our existing business and we respect and admire the brands and the team that have built these brands and are continuing to work on them,” Palm said. “Our short-term plan is that the team is going to remain where they are right now. We’ve worked in agreement with Reed so that they’ll continue to work out of their existing offices until the end of February and then in March we will locate them in a facility that we’re currently exploring specific locations. In terms of the staff, we’re pleased with where we are at and we see it as complementary. We continue to work with the managers to ensure that we’ve got what we need.”

And as for those rumors about employees getting offers from NewBay by the end of the year? Palm says there are contractual issues that need to be ironed out soon, so staffers will be getting letters “formalizing” their relationship with their new employer.

What’s more, in response to questions about cutting down staff, Palm emphasized the fact that the company may actually be looking to hire as it transitions its new titles into the company.

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RBI Sells Broadcasting & Cable, Multichannel News and TWICE

B&C.jpgReed Business Information has sold three of its business-to-business publications, Broadcasting & Cable, Multichannel News and TWICE to NewBay Media, the publisher of broadcasting b-to-b titles like Television Broadcast and Radio World and an affiliate of private equity firm the Wicks Group.

“With this acquisition NewBay adds significant depth and breadth to its existing portfolio of broadcast properties, including TV Technology and Television Broadcast, and consumer electronic properties, including Residential Systems,” said NewBay CEO Steve Palm in a statement about the deal.

According to a memo sent to staff today by RBI’s CEO John Poulin, obtained by FBNY, staffers at the publications “will remain at RBI as we work with NewBay Media to complete the transition,” although their future at NewBay seems uncertain. A NewBay spokesman told FishbowlNY that he was unaware of the future plans for the brands and their staffs, but a tipster tells us the company will offer jobs to the employees they want to keep by the end of the year. (Know anything? Send us an email or leave a tip in the box on the right.)

Poulin also said the company was continuing to work on finding new homes for the other RBI brands — including Publishers Weekly and Library Journal — that the company has been looking to sell since the summer.

In July, RBI Global CEO Keith Jones revealed that the company was putting nearly 50 of the company’s publications on the block. “We have decided to focus our efforts and investments on a narrower range of brands and markets,” Jones said at the time.

Full memo after the jump

Previously: Breaking: Reed Elsevier To Sell Part Of U.S. Business

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Breaking: Reed Elsevier To Sell Part Of U.S. Business

pw.pngIn a memo to staffers today, Reed Business Information Global CEO Keith Jones revealed a plan to divest a bulk of the company’s U.S. publications. RBI will hold on to Reed Construction Data US & Canada, RS Means, Variety, Marketcast, LA411 and Buyerzone, Jones said. The rest of the U.S. titles will be sold, including Publishers Weekly, Library Journal, Broadcasting & Cable and Multichannel News.

“We have decided to focus our efforts and investments on a narrower range of brands and markets, and with this in mind we are announcing today our intention to divest a significant part of the RBI US business,” Jones said in his memo. “This has been a difficult decision to reach as there are many strong brands here, with very experienced and professional teams running them, but we have concluded that they are less well suited to RBI’s strategy going forward.”

Jones also added that Tad Smith, CEO of RBI’s U.S. business, has resigned “to pursue a new job challenge.” He will be replaced by EVP and CFO John Poulin, who has been appointed acting CEO.

Jones’ memo is below. We will keep you posted as news develops. And, as always, your tips are welcome.

Update: RBI’s parent Reed Elsevier has put out a statement and a full list of those properties that have been put on the block — nearly 50 publications plus their related international editions and online products. “We have had to contend with a far harsher advertising environment than any of us have experienced before and, in such a climate, we have to focus not just on innovation and efficiency, but also on ensuring that our portfolio is well-matched with our long-term ambitions,” Jones said.

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Welcome To The Family

webnewser.pngOur mediabistro.com family got a little bigger this week with the addition of new WebNewser editor David Cohen.

David’s an experienced reporter with 13 years at Reed Business including serving in several editorial roles at Multichannel News. Most recently, he served as was deputy editor of digital media for Multichannel and its sister publication Broadcasting & Cable. We’re looking forward to reading his coverage of the Web — and he’s already been furiously posting during his first two days. Welcome, David!