Reed Business Information will retain ownership of Variety, despite recent reports to the contrary. According to Folio:, RBI parent company Reed Elsevier confirmed the news in its 2009 earnings report. The struggling Hollywood trade was rumored to have been quietly put on the block in January.

Earlier this week, the company sold four of its trade publications to Los Angeles-based Canon Communications.

In December 2009, RBI unloaded Broadcasting & Cable, Multichannel News and TWICE.

The 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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Reed Business Information has been trying to sell off part of its U.S. business, and today it looks like it has entered into a partnership with Condé Nast-owned Fairchild Fashion Group regarding its jewelry industry trade magazine JCK.

In a memo sent to RBI staffers today, obtained by FishbowlNY, RBI CEO John Poulin told staffers that the new licensing agreement will allow Fairchild’s fashion trade Women’s Wear Daily to take over operations at JCK, resulting in a new magazine, WWD/JCK Magazine. Fairchild will now start interviewing JCK staffers for positions on the new mag, with the transition set to wrap up by March, Poulin said.

Poulin’s full memo, after the jump

Previously: Reed Elsevier To Sell Part Of U.S. Business, RBI Sells Broadcasting & Cable, Multichannel News and TWICE

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Earlier 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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Reed 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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In a plot development straight out of the “Mad Men” season finale, Reed Elsevier, the British parent company of Reed Business Information, has lost its CEO after putting most of its U.S. assets for sale earlier this year.

Ian Smith has spent the last year trying to sell off RBI titles such as Mutichannel News, Tradeshow Week, Professional Builder, Broadcasting & Cable and Publishers Weekly, and though Elsevier released a statement saying the split was amicable, it also mentioned that the company was “not immune from late cycle pressures given the subscription nature of much of the revenue.” Sounds like Smith couldn’t save the company enough money to justify keeping him on.

In the interim, Reed Elsevier’s CEO position will be filled by Erik Engstrom, previously CEO of the Elsevier portion of the publishing house.

Chief Executive Out at Reed Elsevier –Folio

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

In 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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