About nine months after putting the brands published under the U.S. arm of Reed Business Information on the block again, Reed Elsevier announced this week that it is closing down 23 magazines it has not been able to sell or does not intend to keep.
According to a report in Folio the affected titles include: 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, Restaurant & Institutions, Semiconductor International, Spec Check, Supply Chain Management Review and Tradeshow Week. The news was announced internally at RBI by a memo from RBI Global CEO Keith Jones.
Since late last July, when the RBI magazines went back on the block, the company has been able to sell off several titles, the most recent the sale of Publishers Weekly. According to the announcement, the titles that were sold made up approximately two thirds of the revenue of the portfolio it was attempting to divest.
A Reed Elsevier spokesperson declined to say how many positions will be eliminated as a result of the closings, which should take effect by the end of April. He says Reed is open to discussions with potential purchasers of the intellectual property associated with any of the closed down brands.
In January, RBI closed Video Business, Manufacturing Business Technology and Industrial Distribution.
As previously announced, Reed intends to keep Variety, Marketcast and 411 Publishing, Reed Construction Data and the Buyerzone lead generation business.
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