Reed Business Information — which has been busily unloading its magazines — has now sold Publishers Weekly, which had been in a state of deal-no deal limbo for more than a month. The publication is being sold to a new company led by George Slowik Jr., who was the publication’s publisher in the late 1980s and early 1990s, and was — until this month — the publisher of The American Prospect.
Slowik says he “will leverage Publishers Weekly‘s brand equity and talent pool to extend the franchise to a wider electronic and international footprint.” All of the company’s editorial, art and advertising employees are staying with the company, as is its top management including publisher Cevin Bryerman and co-editors Jim Milliot and Michael Coffey.
Reed Business Information began the process of selling its magazine titles last summer. (Variety is one of only a few titles it has said it will retain). And, after being unsuccessful in its attempts to sell the business as a whole, Reed Business Information has been selling the magazines to different purchasers.
A sampling of the sales so far: Broadcasting & Cable, Multichannel News and TWICE were sold to NewBay Media. The library science magazines have gone to to MediaSource. And the design periodicals were sold just over a week ago to Sandow Media.
Financial terms of the Publishers Weekly deal were not disclosed.