Reed Closes 23 Pubs, Including Graphic Arts MonthlyApril 16, 2010
NEW YORK—Reed Business Information (RBI), a division of Reed-Elsevier, which has been searching since last summer for a buyer of many of its business-to-business publications, announced through an internal memo that it is folding 23 of those books, including Graphic Arts Monthly (GAM), Converting magazine and the Graphic Arts Blue Book.
RBI CEO Keith Jones informed employees of the decision through an internal memo obtained by Mediabistro. RBI had sold 21 titles, but was unable to move the remaining 23 it had targeted for divestment.
The 23 shuttered properties are Building Design+Construction, Chain Leader, Construction Bulletin, Construction Equipment, Consulting-Specifying Engineer, Control Engineering, Converting, Foodservice Equipment & Supplies, Graphic Arts Blue Book, Graphic Arts Monthly, HOTELS, Logistics Management, Material Handling Product News, Modern Materials Handling, Plant Engineering, Professional Builder, Professional Remodeler, Purchasing, Restaurants & Institutions, Semiconductor International, Spec Check, Supply Chain Management Review and Tradeshow Week.
"These publications have had very experienced, professional and committed teams running them in the most difficult of circumstances," Jones wrote. "However, their trading performances have been under pressure for some time and the impact of the recession and media migration in the markets for these titles is such that we cannot see our way back to profitable growth."
GAM had been published for 82 years.