×

Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

BtoB

Publisher G+J reportedly pulls bid for Reed Business Information

Published on .

Frankfurt, Germany—German publishing house Gruner+Jahr, which entered into a bidding contest in August to acquire trade magazine company Reed Business Information, has removed itself from consideration, according to a report from Reuters.

G+J attributed its withdrawal to declining advertising revenue at RBI, the U.K.-based b-to-b unit of Anglo-Dutch publisher Reed Elsevier, according to Reuters, which cited a German magazine as its source.

RBI was put on the block last February and had attracted several bidders. The potential value of the unit has been pegged at between $1.85 billion and $2.32 billion, according to The Guardian.

Among the companies reported to be interested in G+J is McGraw-Hill Cos. in alliance with private equity firms Quadrangle and Advent International.

Hamburg-based G+J is owned by media group Bertelsmann and publishes the weekly Stern and the women’s magazine Brigitte. RBI publishes such trade magazines as Publishers Weekly and Variety.

—Christopher Hosford

Most Popular
In this article: