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Reed Elsevier to sell airlines guide

Published on .

London--Dutch publishing giant Reed Elsevier plc plans to sell its Official Airlines Guide for a nominal sum eight years after it bought the guide from the estate of media tycoon Robert Maxwell for $400 million. Specific terms weren't disclosed but Reed is expected to sell OAG this summer in a management buyout led by Eddie Bell and LesHiggins, former HarperCollins book publishers. Reed, which has seen a migration of revenues from OAG's print products to faster substitutes on the Web, has written off OAG's value as zero.
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