Library Journal & Parent RBI for Sale

Reed Elsevier on February 21 announced plans to sell Reed Business Information (RBI), the parent company of Library Journal and sibling publications Publishers Weekly, School Library Journal, and Críticas. In a statement, Reed Elsevier CEO Crispin Davis said that the company was divesting its advertising-based business-to-business publishing unit and moving more aggressively into a “risk management business,” fueled by the $4 billion acquisition of ChoicePoint. Last year, Reed Elsevier sold Harcourt Education, another print-based business.

Davis did not identify potential buyers for RBI, which could draw $2 billion, but expected interest from both “strategic and private equity buyers.” Press reports mentioned private equity firms Apax Partners, the UK group that bought American Lawyer Media and Gale, and Cinven.

Ron Shank, VP and publisher of RBI’s Publishing Group, commented, “Publishers Weekly, Library Journal, School Library Journal, and Críticas are focused on expanding their peerless coverage of the news and trends in their respective sectors.... We’re moving ahead on schedule with innovative programs for our market partners and our universe of readers and online communities.”