Nielsen Sells Hollywood Reporter, Billboard to e5 Global Media

Authored by Mark Hefflinger on December 10, 2009 - 9:16am.

New York - Trade publisher and event producer Nielsen Business Media announced on Thursday that it has sold its media-related brands, including The Hollywood Reporter, Billboard and Adweek, to a new venture called e5 Global Media, formed by private equity firm Pluribus Capital Management and financial services firm Guggenheim Partners. Financial terms of the transaction were not disclosed. The deal also includes Nielsen's Brandweek, Mediaweek, Backstage and Film Journal International, as well as its Clio Awards, ShoWest, ShowEast, Cinema Expo International and CineAsia trade shows, and is expected to close by the end of the year.

"Nielsen is committed to managing its portfolio of businesses in a way that maximizes their long-term value," said Nielsen Business Media president Greg Farrar.

"Divesting these titles allows Nielsen to focus its investment on its core businesses and those parts of our portfolio that have the greatest potential for growth, including our leading trade show group."

The Associated Press reports that Nielsen will also shutter Editor & Publisher, the 108-year-old trade journal covering the publishing industry.

"I would hope because of our special history and our role as a watchdog in journalism that it would be more likely in this case that there will be someone that's going to say, 'Hey, we're not going to let this die,'" Editor & Publisher editor Greg Mitchell told AP.

Related Links:
http://snipurl.com/tn1dt (AP)

http://snipurl.com/tn18z (PaidContent)

http://www.nielsen.com