RBI to Shut Down Remaining 23 Magazines
Parent Reed Elsevier to hold onto Variety, other brands.
About nine months after putting the brands published under the U.S. arm of Reed Business Information on the block again, Reed Elsevier announced today that it is closing down the magazines it has not been able to sell or does not intend to keep. In total, the number of magazines to be closed down is 23.
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.
UPDATE: When contacted by FOLIO:, 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 the month. He says Reed would be open to discussions with potential purchasers of the intellectual property associated with any of the closed down brands.
In January, RBI shuttered 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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