The closures have begun at Reed Business Information’s U.S. trade magazine properties.
Although some titles, like Broadcasting & Cable, Multichannel News and TWICE, have been sold, Poulin said that some remaining pubs would likely face the axe:
“We are in advanced discussions to sell a number of titles to separate purchasers and, if these are satisfactorily concluded, expect to make announcements on these sales in the next few months. We have not been able to sell the business as a whole and this unfortunately will result in title closures and job losses across the business during the first half of the New Year.”
Today, we got word of some news of closings. According to an internal memo that went out today from Jeff DeBalko, president of business media, RBI has closed Manufacturing Business Technology (or MBT), Industrial Distribution and Video Business, effective today. What’s more, DM2, which manages targeted B2B postal and e-mail lists, will no longer manage non-RBI lists, starting in April.
Requests for comment from RBI have not yet been returned An RBI spokesperson confirmed the closure news, but declined to comment on whether anyone would be let go, so we’re not sure how many people will be affected by this change. Know anything? Leave a tip in the box on the right or send us an email.
Full memo after the jump
I have some unfortunate news to share. Effective today, RBI-US is closing MBT (Manufacturing Business Technology), Industrial Distribution and Video Business. Also, effective April 8, 2010, DM2 will no longer manage, market or rent 3rd party (non-RBI) lists. DM2 will continue to support internal list management through the resolution of the divestiture process.
Both John Poulin and I would like to thank our colleagues at these properties for their service to the company. Over the years, our brands and our people have made a real difference in the markets they serve. We wish them much professional success in the future and remain available and committed to helping them in any way we can during this process.
As promised, we will continue to keep you updated on any further organizational changes.