New York—Reed Business Information US, which is in the process of divesting much of its business media portfolio, will close some trade publications and cut an unspecified number of jobs in the first half of this year, according to a memo written by John Poulin, CEO of RBI US.
In the memo, which was issued Dec. 31, Poulin wrote: “We are in advanced discussions to sell a number of titles to separate purchasers and, if these are satisfactorily concluded, expect to make announcements on these sales in the next few months. We have not been able to sell the business as a whole, and this unfortunately will result in title closures and job losses across the business during the first half of the new year.”
In December, RBI, which is owned by Reed Elsevier, sold Broadcasting & Cable, Multichannel News and TWICE to NewBay Media.
Reed Elsevier attempted but failed to sell the whole of Reed Business Information in 2008.