Reed Elsevier units for sale

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Reed Elsevier, the Anglo-Dutch media concern, said Tuesday it plans to sell consumer publishing companies in the U.S., U.K. and the Netherlands in order to concentrate on scientific, professional and business segments. Analysts estimate the price tag is likely to be in the $1.5 billion range for the units on the block, which combined for about $900 million in revenue last year.

The package consists of Cahners consumer magazines in the U.S.--including American Baby, Modern Bride and Sail--Reed consumer books and regional papers in the U.K. and the Dutch magazine publisher Bonaventura. Proceeds from the sale will be used to reduce debt and finance future acquisitions.

Last May Reed Elsevier issued a company-wide memo to all Cahners employees in the U.S. denying speculation it was considering spinoffs reported in Advertising Age and Ad Age's Business Marketing.

Copyright July 1995 Crain Communications Inc.

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