Today Nielsen Business Media announced the sales of Billboard Magazine, Adweek, Brandweek, The Hollywood Reporter, and four other titles as well as their film industry conventions business. The new owner is a just formed media company called e5 Global Media Holdings. Not surviving the sale was the 125 year-old Editor & Publisher, the seemingly eternal watchdog of print journalism. From Nielsen’s press release:
This move will allow us to strengthen investment in our core businesses – those parts of our portfolio that have the greatest potential for growth – and ensure our long-term success. We remain committed to building our trade show group and affiliated brands. These assets continue to be a key part of The Nielsen Company’s overall portfolio and we strongly believe they are positioned to grow as the economy recovers. In addition, we’ll continue to assess the strategic fit of our remaining portfolio of publications. [snip] I want to take this opportunity to offer heartfelt thanks to our colleagues who will be leaving the company for their dedication and commitment to Nielsen over the years. Please join me in wishing them well in their future endeavors.