Nielsen has finally found a buyer for Kirkus Reviews, which was threatened with being shuttered following the sale of its b2b pubs, the NYT reported. Herb Simon is the pub’s new owner. While he owns an independent bookstore in Montecito, CA., Simon is also known as the owner of Indiana Pacers NBA team. He’s also chairman emeritus of Simon Property Group, a shopping mall developer. He has named Marc Winkelman, CEO of seasonal retailer Calendar Holdings, to head the newly named Kirkus Media. Winkelman, who also co-owns Tecolote Books with Simon, is also taking a minority stake in the company. Terms were not disclosed. Updated: The official release on the sale is out.
Kirkus was slated for closure after Nielsen sold off its other b2b mags, including The Hollywood Reporter, Billboard, Adweek and others, to James Finkelstein and Pluribus Capital Management in December. The magazine’s reprieve follows the new lease on life given to Editor & Publisher, which Nielsen sold to Boating World publisher Duncan McIntosh Co. Inc. last month.