Reed Elsevier the Anglo-Dutch communications group has sold some of the most famous names in publishing. William Heinemann, Secker & Warburg and Methuen have been sold by Reed to Random House of New York. Random House bought the imprints for around $20 million.
Reed is selling off its consumer business to concentrate on professional publishing. Reed has recently purchased Lexis-Nexis, a leading on-line publisher and earlier this week Reed bought a group of American legal titles from Thomson Corp for $49 million.
Reed’s children’s illustrated and reference book divisions are expected to be sold off in the next few months.
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