paidContent: B2B Publisher Reed to Continue Its Selling Spree

Reed Business Information, publisher of more than 400 trade magazines, will be spinning off a few additional titles in the coming weeks, paidContent reports. As we reported yesterday, Reed has announced the sale of Interior Design, as well as the entire Furniture Today family of titles, to Worth publisher Sandow Media. Terms weren't disclosed. In conjunction with the announcement, Sandow Media said it plans to hire 100 employees and expand operations in New York City. Reed has been doing quite a few deals lately. On March 1, the company announced the sale of Library Journal and School Library Journal to Media Source. It also sold several titles to Canon Communications in mid-February. Press release announcing yesterday's sales after the jump. Sandow Media announced today that it has acquired several key print and online brands serving the commercial/residential design and home furnishings and accessories industries. Included in the purchase from Reed Business Information is the iconic Interior Design magazine and the entire Furniture Today group of publications, including Furniture Today, Gifts & Decorative Accessories, Home Textiles Today, Casual Living, Home Accents Today, Kids Today and Playthings. Sandow Media will hire more than 100 employees with this transaction and substantially expand its current New York City operations. Reed Business Information's Greensboro, North Carolina, facility will also become part of Sandow Media. "This is a rare opportunity for Sandow Media to acquire a group of industry-leading magazines and a very strong management team," says Adam I. Sandow, chairman and CEO of Sandow Media. "These brands each have robust print, digital, event and research businesses and hold the category leader position in each of their respective markets." "We have built Sandow Media on a foundation of quality and innovation, and while these terms are sometimes overused, they are deeply rooted within the DNA of our company and each of our employees," says Sandow. "B-to-B media serves an incredibly important function to educate, inform and provoke its readers, and we take that responsibility seriously. It is our job to bring new innovation to these platforms, invest in the digital future and provide the management team with the ability to grow in new and exciting directions." "As design continues to increase its impact throughout our world, this is a terrific and exciting transition for Interior Design. With Interior Design being the leading voice and advocate for the professional design community, there are tremendous opportunities moving ahead," says Mark Strauss, publisher and vice president. "I am delighted to have partnered with Adam Sandow and his team. Dynamic, fast and innovative are adjectives that best describe Sandow Media. They also happen to best fit design and certainly Interior Design Magazine...lock and load," adds Cindy Allen, Editor in Chief. "This deal couldn't have come at a more perfect time as our nation's housing market begins to show signs of recovery," says Kevin Castellani, vice president and publishing director. "The furnishings industry is a $72 billion industry that is expected to grow almost 4 percent in 2010." Furniture Today Editor in Chief Ray Allegrezza adds, "Since 1976, Furniture Today has earned the reputation as the most trusted industry source for news, insight and research. With the support of Sandow Media, and especially a partnership with its strong consumer presence in the home furnishings market with Luxe, we are incredibly optimistic about our future opportunities for growth and editorial innovation." "We are more than pleased that our valuable brands and our talented and dedicated employees have found a new home with Sandow Media, a highly creative publishing company that has a tremendous track record under the leadership of Adam I. Sandow," says Reed Business Information-US CEO John Poulin. "We wish them every possible success." Reed Business Information-US and its parent company, Reed Elsevier, were represented by The Jordan, Edmiston Group, Inc., a New York City-based investment bank that specializes in media, information, marketing services and related technologies.

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paidContent: B2B Publisher Reed to Continue Its Selling Spree

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