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Broadcasting & Cable, Multichannel News and the consumer electronics trade Twice are being put on the block by Reed Elsevier, parent of Variety. The Hollywood trade paper is not up for sale, but Reed Elsevier continues to be battered by a weak ad market. The company also announced that Tad Smith, CEO of Reed Business Information-US, is stepping down. From The Wrap:
RBI's US operation, which include more than 80 trade publications, was put up for sale last year, and then taken off the market near the end of the year after at least one buyer cut its offer dramatically as financial markets were in freefall. At the time, parent company Reed Elsevier had said it did not see a future for print-oriented news publication and would be focusing on growing its data-oriented properties.
The Wrap story speculates that Reed may be waiting out the awards season, when Variety traditionally makes most of its money. Here's the Variety story.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.