Reed Business Information, one of the world's biggest publishers of business magazines, has been put on the market by the Anglo-Dutch publishing company, Reed Elsevier in an attempt reduce its exposure to the cyclical advertising markets.
The business, it has been said by analysts, could possibly fetch up to £2 billion, and is likely to experience no problems in attracting bidders, with rival publishers and private equity firms already lining up to express interest.
Reed Elsevier generated profits of £260 million on revenues of £906 million last year. The company is reported as being prepared to wait to find the right selling price before letting the titles go. The division includes a huge range of publications, including Estates Gazette, New Scientist, Flight International and Computer Weekly in the United Kingdom to Variety in the US.
The chief executive, Sir Crispin Davis, also confirmed cost-cutting measures that have been designed to save £245 million over the next four years, possibly involving up to 1000 job losses.
