After having shed its some of it major b2b mags, Nielsen has now sold off some of its smaller business travel and meeting brands to Northstar Travel Media, Folio reported. The sale, terms of which were not disclosed, includes Business Travel News, Successful Meetings, Meeting News, Incentive and online meetings hub MiMegasite.
The acquisition comes amid a wave of business magazine M&A activity, including today’s earlier news that Reed Business Information U.S. has sold two of its library titles to MediaSource.
Northstar CEO Tom Kemp told Folio that the company saw a chance to pick up a few mag brands fairly cheaply to help build up its travel titles. At the same time, companies like Nielsen and RBI have been having a difficult time supporting so many disparate business titles at a time when ad revenues for those properties aren’t keeping pace with the respective operating costs. Kemp says that while there will be some initial job cuts to eliminate redundancies, he says the Nielsen titles have been starved of necessary investment. He plans to rectify that and will staff up over time. That’s the same promise e5 Global Media, which now owns former Nielsen Business mags such as Adweek, Billboard, The Hollywood Reporter and others. Whether or not these smaller concerns can do a better job of running these mags is still a matter of wait and see, though mag ad spend declines have been slowing lately.