VARIETY parent company Reed Elsevier announced Thursday they will sell Reed Business Information, which includes VARIETY and DAILY VARIETY.
Reed Business Information is the magazine publishing division, and also owns BROADCASTING AND CABLE, MULTICHANNEL NEWS, PUBLISHERS WEEKLY and NEW SCIENTIST.
VARIETY reports chief executive Crispin Davis said the move was aimed at "reducing exposure to advertising markets and cyclicality," enabling the Anglo-Dutch group to focus on its core business of "subscription-based information and workflow solutions."
No talks or timetable has been set up.
RBI had an adjusted operating profit of $233 million in 2007.
