Reed Sells Library Journal Titles to Media Source
Monday, March 1, 2010
Steve Smith

Comment Print Email Article Database Del.icio.us Digg   Facebook Reprints

Continuing its effort to sell off many print titles in the portfolio, Reed Business Information has sold both Library Journal and School Library Journal to Ohio-based Media Source Inc. Media Source will take on all of the respective brands’ print and online components as well as the Library Hotline supplemental newsletter.

With the acquisition, Media Source is pumping up current holdings in the space; it owns the Junior Library Guild and The Horn Book Inc. companies. “We respect the history and contributions of Library Journal and School Library Journal,” said Media Source CEO Randall Asmo in statement. “Our goal is to build upon those strengths to provide a vital and comprehensive service to the librarian community.” The company says that the editorial and sales offices of the publications will remain in New York and the books’ current editor-in-chief (Brian Kenney) and publisher (Ron Shank) will remain in these roles.

School Library Journal and Library Journal are read by more than 100,000 librarians for their reviews and purchasing guidance on new titles. The purchase price on the deal was not disclosed. The Jordan, Edmiston Group Inc. represented RBI in the transaction.

This deal also leaves undecided the fate of the remaining large book in RBI's publishing segment—Publishers Weekly.

RBI has been on a selling binge in recent months. It divested four titles in the electronics segment to Canon Communications last month. The company folded Video Business, MBT and Industrial Distribution in January. And late last year it sold much of its broadcasting and cable portfolio to NewBay Media.

If you have breaking news to share please contact Steve Smith at ssmith@accessintel.com

More Breaking News & Views

• SourceMedia Logs Into Research and Data
• Mobile Content to Top $3.5 Billion by 2014
• Cycle News Ceases Publication
• Smithsonian Mag Auctions Art for Haiti Charity
• UBM Expands Virtual Biz with Astound Acquisition

Breaking News & Views Archives

COMMENTS

Post a Comment

Name:

Email:

Comments:

Please enter the letters or numbers you see in the image.

Comment Print Email Article Database Del.icio.us Digg   Facebook Reprints