The Nielsen Company is selling eight publications including Billboard music magazine and The Hollywood Reporter, to a newly formed media investment group, e5 Global Media LLC; and is discontinuing two other titles.
Financial details of the sale were not disclosed. The deal is scheduled to close by December 31st.
Since going private
and delisting in 2006 the company has gradually focused on core activities and the Nielsen brand, changing its name
from VNU the following January and vowing to ‘create an integrated, streamlined global organization’. It quickly sold
most of its Business Media Europe (BME) division to venture capital firm, 3I, but until now has retained the key US titles. Last year it launched
an analysis service linking The Hollywood Reporter to its data analysis capability.
Billboard, famous for its weekly music sales charts, and the eighty-year-old Hollywood Reporter have seen recent management changes and cost-cutting moves, and the new owners have promised to invest in them, ‘to add enhanced content across their print, online and new media channels.’
The sale also includes media publications Adweek, Brandweek and Mediaweek, as well as The Clio Awards, Backstage and Film Journal, and Nielsen’s Film Expo business. Kirkus Reviews and Editor & Publisher are the titles being closed down.
Nielsen’s cost-cutting and consolidation have helped it to weather the recession in reasonable shape - a month ago it reported
revenue down one per cent for the quarter to $1.25bn.
Web site: www.nielsen.com