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BREAKING NEWS & VIEWS
Nielsen Sells Eight TitlesThursday, December 10, 2009 After weeks of speculation and rumors, Nielsen Business Media confirmed this morning that it is selling The Hollywood Reporter, Billboard, Adweek, Brandweek, Mediaweek, The Clio Awards, Backstage and Film Journal International. The buyer is a newly formed company, e5 Global Media LLC. This joint venture includes investment from Pluribus Capital Management and Guggenheim Partners. Pluribus Capital was recently formed by publisher James Finkelstein as a vehicle for managing media companies; Guggenheim Partners is a global diversified financial services firm. In addition to the titles and awards shows, Nielsen is selling to e5 the Film Expo business that includes ShoWest, ShowEast, CinemaExpo International and CineAsia. Nielsen claims it remains committed to its remaining fleet of trade shows but that it will continue to look for “the strategic fit of other publications.” Since acquiring these print brands several years ago, Nielsen’s larger analytics and media services businesses always seemed an uncomfortable fit with print publishing. The companies did not disclose terms of the deal but the transition will begin immediately, and the publications’ operations will remain in their current offices in New York and Los Angeles. The deal is scheduled to close on Dec. 31. As we report separately today, Nielsen also has shuttered both Editor & Publisher and Kirkus Reviews as a part of this decision. If you have breaking news to share please contact Steve Smith at ssmith@accessintel.com
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