CHICAGO (AdAge.com) -- Reed Elsevier today said it is closing 23 controlled-circulation publications that it had tried but failed to sell. These publications include powerful and revered business-to-business media brands such as Construction Equipment, Graphic Arts Monthly, Modern Materials Handling, Plant Engineering, Professional Builder, Purchasing, Restaurants & Institutions and Tradeshow Week.
Reed Elsevier confirmed it was keeping Variety, Marketcast, 411 Publishing, Reed Construction Data and the Buyerzone lead-generation business.
The print media business has been hard hit by competition from digital media and of course the recession, pushing many consumer magazines out of business and hurting trade titles at least as badly.
Reed Elsevier has successfully sold off a number of publications since last year, including Broadcasting & Cable, Electronic Design News, Library Journal, Interior Design and Publishers Weekly. The titles it did sell represented about two-thirds of the revenue generated by the entire group of publications it had set out to divest.
The closing publications "may still be sold, but you might have to put 'sold' in quotation marks because, when you announce a publication is closing, its value plummets," said Reed Phillips, managing partner of DeSilva & Phillips.
The other publications being shuttered are Building Design & Construction, Chain Leader, Construction Bulletin, Consulting-Specifying Engineer, Control Engineering, Converting, Foodservice Equipment & Supplies, Graphic Arts Blue Book, Hotels, Logistics Management, Material Handling Product News, Professional Remodeler, Semiconductor International, Spec Check and Supply Chain Management Review.
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Sean Callahan is Media Reporter at B2B.