Updated: Reed Sells Library Titles To MediaSource, Publishers Weekly Left Hanging

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An all-hands staff meeting has been called for 9:30 a.m. at Publishers Weekly, according to a source familiar with the situation. PW is one of the remaining U.S. Reed Business Information titles the company has said it plans to divest; RBI plans to keep only Variety among its U.S. ad-supported titles. It’s possible that this morning’s meeting is to announce a buyer but given RBI’s inability to sell the trade weekly on its own or with other titles far, it well could be to announce the closing of the venerable publishing trade weekly. The meeting does not include staffers of Library Journal and School Library Journal, the other magazines in the Publishing Group which were to be sold with PW.

Update 1: We’re told the meeting was to announce the sale of the two library titles; Ron Shank, the group publisher, and Brian Kenney, editorial director of the publishing group, will follow them. We’re confirming the buyer. We’re also told Cevin Bryerman succeeds Shank; Michael Coffey and Jim Milliot will head editorial jointly. Meanwhile, the PW staff remains in deal-no deal limbo.

Update 2: The Library Journal and School Library Journal buyer is MediaSource, the Ohio-based company which also owns Horn Book and Junior Library Guild.

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