Buyers of the Nielsen Co.'s media and entertainment brands said they plan to invest heavily in the print brands and introduce paid content to their Web sites, a sign of their belief in the value of targeted, high-quality brands despite the negativity surrounding print media.
The newly formed company, e5 Global Media LLC, announced earlier today it has agreed to purchase eight brands belonging to Nielsen Business Media. Pluribus Capital Management and Guggenheim Partners formed e5 jointly.
The brands being acquired are AdweekMedia (which includes Adweek, Mediaweek and Brandweek), The Hollywood Reporter, Billboard, Backstage, The Clio Awards and Film Journal International. E5 Global Media will also acquire the Film Expo business, which includes ShoWest, ShowEast, Cinema Expo International and CineAsia trade shows. The parties declined to identify a purchase price, which other media reports have put at $70 million.
Nielsen announced separately it will cease publishing Editor & Publisher and Kirkus Reviews. In a statement it said it plans to continue operating its trade show group and affiliated brands, but will "continue to assess the strategic fit of other publications."
http://www.adweek.com/aw/content_display/news/media/e3icf90084764d1ef2d4ab9be4342d72e78More truth silenced....
Editor & Publisher, the bible of the newspaper industry and a journalism institution that traces its origins back to 1884, is ceasing publication.
An announcement, made by parent company The Nielsen Co., was made Thursday morning as staffers were informed that E&P, in both print and online, was shutting down.
The expressions of surprise and outpouring of strong support for E&P that have followed across the Web -- Editor & Publisher has even hit No. 4 as a Twitter trending topic -- raise the notion that the publication might yet continue in some form.
Nielsen Business Media, of which E&P was a part, has forged a deal with e5 Global Media Holdings, LLC, a new company formed jointly by Pluribus Capital Management and Guggenheim Partners, for the sale of eight brands in the Media and Entertainment Group, including E&P sister magazines Adweek, Brandweek, Mediaweek, Backstage, Billboard, Film Journal International and The Hollywood Reporter. E&P was not included in this transaction.
As news spread of E&P's fate, the staffers have been inundated with calls from members of the industry it covers, and many others, expressing shock and hopes for a revival. Staff members will stay on for the remainder of 2009.
Greg Mitchell, editor since 2002, has hailed the staff and accomplishments, including a dozen major awards and strong showing on the Web for many years. Some staff writers/editors have been at E&P for a quarter of a century. "I'm shocked that a way was not found for the magazine to continue it some form -- and remain hopeful that this may still occur," he said.
http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1004052655 
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