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Reed sets big compensation fund

Published on .

Advertisers in hotel and airline directories published by Anglo-Dutch publishing group Reed Elsevier, London, will be offered a total of around $324 million in compensation for overstated circulation figures. The amount covers circulation irregularities during the period between 1991 and 1997. Separately, Reed Travel Group will be restructured with the Hotel Directories Group and the Travel Business Magazines Group to be managed in the U.S. as part of Reed Elsevier Business Information. The Airline Guides Group will be managed separately as part of Reed Business Information in the U.K.

Copyright January 1998, Crain Communications Inc.

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