Reed plans sale of Variety, other trade publications

February 22, 2008 Reed Elsevier said Thursday that it plans to sell its business-to-business magazine division, which includes such media and entertainment industry titles as Variety, Broadcasting and Cable, Multichannel News and Publishers Weekly. The Anglo-Dutch company said the move is designed to reduce its exposure to the volatile advertising market as it rejiggers its holdings to focus on databases and other businesses. The news came as Reed Elsevier -- which in many areas competes with the Nielsen Co., the corporate parent of The Hollywood Reporter -- unveiled a $4.1 billion acquisition of ChoicePoint, a provider of information services for the insurance industry, which is seen as fitting in with Reed's LexisNexis property.

Subscribe to the Hollywood Reporter and see the entertainment industry from its best angle: the inside looking out. Complete access to real-time news and exclusive analysis that goes behind the scenes from film to television, home video to digital media.

   Subscribe now.