The Reed Business US sale process is a tough going, according to an internal year-end memo sent out by RBI USA CEO John Poulin, reports PaidContent.org. The parent company tried to sell the global RBI unit last year and that was abandoned after it couldn't find a buyer at the price it wanted. Then earlier this year, it announced a process to only sell certain titles of its U.S. RBI arm.
Selling out is not always an option -- Here's why
The company has not been able to sell all of the 50-odd titles on sale together, so it has now shifted the focus to selling off piecemeal. As part of that, it was able to offload—probably for pennies on the dollar, if that—its three media-group titles Broadcasting & Cable, Multichannel News, and Twice late last year to Newbay Media. Poulin's memo says it is in "advanced discussions to sell a number of titles to separate purchasers". What this also means is a number of them that will not find a buyer will be shut down, and of course, layoffs.