Variety Was On The Block, Or Was It?

That was then.

Four days later, all bets are off. Reed Elsevier seems to be saying no dice to any and all offers.

Citing the poor economy (what else is new?) and frozen credit markets, Reed Elsevier said it wants to wait until conditions are more favorable.

Chief Executive Officer Crispin Davis planned to sell the unit to make Reed Elsevier less dependent on ad sales and swings in the economy, while using the proceeds to repay debt and safeguard its credit rating.

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