Reed Business Information has sold Broadcasting & Cable and Multichannel News to NewBay Media, the LA Times reports.
The new owner is a subsidiary of private equity firm The Wicks Group and produces 40 publications and newsletters.
Reed Business Information has had these magazines up for sale for more than a year, along with Professional Builder, Publishers Weekly and Tradeshow Week. RBI says it plans to retain ownership of Daily Variety and Variety.
Meanwhile, the National Geographic Society is reportedly shopping around its Adventure magazine, Folio: reports. Sources told Folio: that NGS approached Bonnier about buying the magazine. A spokesperson for Bonnier replied: “Because we have been so bullish on acquisitions in the past year, we are always being sought after by companies looking to see if we have interest in their magazines,” the spokesperson said, adding that “we’re not interested in acquiring this property.” (It’s true. Bonnier recently bought five of Hachette Filipacchi’s magazines for a reported $35 mil and also this year snagged Conceive from its founders.)
Adventure has seen its ad pages decline the most out of all NGS magazines, down 44 percent through Q3 2009.