TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Posts Tagged ‘Reed Elsevier’

NYT Documents the Decline of Variety

varietycoverwhiteman3333.jpgNew York Times’ Michael Cieply and Brooks Barnes write about the history and plight of the entertainment business’ oldest trade Variety:

In a more detailed interview, Neil Stiles, Variety’s president, said his paper was profitable but declined to disclose financial figures for the operation, which has been owned since 1987 by Reed Elsevier. He said Variety had suffered a year-to-year ad revenue decline less severe than the estimates of 50 percent or more that have been heard in Hollywood.

But Martin Kaplan had the best quote:

“Traditionally, the trades have offered gossip, casting announcements, advance reviews and hopefully a little news,” he said. “Go through that list and ask what’s left. It’s all widely available elsewhere.”

Whole piece is here.

Previously on FBLA:

  • Todd McCarthy and David Rooney Out at Variety

  • Mediabistro Course

    Pitch Your Magazine Article

    Pitch Your Magazine ArticleStarting October 1, learn how to write queries for magazines and websites! In this course, you'll learn how to write and send an effective pitch, generate pitch letters, research outlets for your articles, and follow-up with editors to ensure that your queries get results. Register now! 

    Confirmed: RBI Will Retain Variety

    variety218.jpg 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.

    FishbowlNY’s 2009 Lists: New York Media’s Biggest Business Decisions

    4 times square.jpgNew York is home to some of the biggest media companies in the country, like Condé Nast, The New York Times Co., News Corp., Hearst and Time Warner, just to name a few.

    This year, those companies were imperiled, struggling to survive like many other companies around the world. But as print media disputed declarations that its days were numbered, these once-great companies that made their money from print pubs were fighting hard to keep their heads above water. In order to do that they made some decisions — like bringing in new investors, closing publications and selling them off. It was in no way a big year for media deals, but there were a few. Below, our list of the biggest business stories to come out of the New York media world this year.

    Bloomberg LP Buys BusinessWeek

    After seeking a buyer for BusinessWeek for most of the fall, publisher McGraw-Hill finally cut a deal with Bloomberg LP, which snapped up the magazine in October. The result? Bloomberg BusinessWeek, a new vision of the mag that has a new editor and a smaller staff.

    After the jump, Carlos Slim invests in the Times, classical music and the Comcast-NBCU deal.

    Read more

    Reed Elsevier And Ian Smith Part Ways

    ian_smith_149.jpgIn 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 ElsevierFolio

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

    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.

    Read more

    Variety Was On The Block, Or Was It?

    varietyim.jpgVariety, owned by London’s Reed Elsevier, looked to be the target of overall billion-dollar buyout by British firm Bain Capital, the Independent said on Sunday.

    That was then.

    Four days later, all bets are off. Reed Elsevier seems to be saying no dice to any and all offers.

    Citing the poor economy (what else is new?) and frozen credit markets, Reed Elsevier said it wants to wait until conditions are more favorable.

    Chief Executive Officer Crispin Davis planned to sell the unit to make Reed Elsevier less dependent on ad sales and swings in the economy, while using the proceeds to repay debt and safeguard its credit rating.

    One of three bidders (probably Bain Capital) dropped out last weekend, according to two people familiar with the process.

    “Let’s be honest, these are tough markets and the price being proposed was just too low,” Alex De Groote, an analyst at Panmure Gordon & Co. in London, told Bloomberg. “This was the only deal anywhere and it was almost bizarre it was still going on in this economy.”

    It might be back to the drawing board for Reed Elsevier, but Variety says it’s nonetheless doing quite well.