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B&C, Multichannel News Back on the Sales Block

Jul 30, 2009  •  Post A Comment

Reed Business Information has put a number of magazines, including B&C and Multichannel News, back on the sales block, Folio reports.

Reed also announced that REI U.S. CEO Tad Smith has resigned, Folio said. The acting CEO will be John Pulin, who has been the company’s CFO.

B&C and Multichannel, along with a number of other publications, including Variety, were put on sale by RBI last year, but the company "dropped the sale late last year after bids were said to have fallen from approximately $2 billion to $1 billion" because of the recession, Folio said. 

This time around the company has said it will retain Variety and some others that are not for sale.

Folio did not say if Reed had a particular buyer in mind, or how much money it expected the publications to fetch.

RBI saw adjusted operating profits plunge 43 percent in the first six months of this year, Folio said.

—Chuck Ross

One Comment

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