Speculation Surrounds Reed Elsevier’s Business Titles

Anglo-Dutch publisher, Reed Elsevier, is reported to be considering the disposal of its business publishing and exhibitions interests ahead of a possible resumption of merger talks with Dutch group Wolters Kluwer.

According to the Observer this weekend, Reed’s publishing division, which produces Computer Weekly and Variety magazines, could raise around £4 billion if sold off. Potential buyers could be United News & Media and EMAP.

In January 1998, Reed sold off IPC Magazines to venture capital group Cinven for £860 million. The company was also involved in merger talks with Wolters Kluwer, but these broke down in March last year (see Reed And Wolters Call Off Merger). It is understood that Wolters Kluwer would not be interested in owning Reed’s business publishing division, and that a sale of this by Reed might precipitate new talks with Wolters Kluwer.

However, a source at Reed today said that the weekend’s reports are purely speculative and that the business publishing division is core to Reed’s business activities.

Reed hit troubles last week with the resignation of two of the group’s directors and the failure to appoint Jonathan Newcomb as new chief executive, as planned (see Sharewatch).

Reed Elsevier: 0171 222 8420