Reed completes big Chilton buy

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Reed Elsevier yesterday completed its $447 million acquisition of Chilton Business Group from Walt Disney Co.'s ABC Inc. subsidiary. Chilton's U.S. Trade Magazine Group and its Chilton Research unit will combine with Reed Elsevier's Cahners Publishing Co. in a new organization to be known as Reed Elsevier Business Information. It will be headquartered in Newton, Mass. Lee Hufnagel, Chilton Business Group president and most of the senior management team have agreed to stay with the new unit.

Copyright September 1997, Crain Communications Inc.

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