Nielsen sells Billboard and other mags, report says
Nielsen reportedly offloads several magazines as its business media division continues to struggle.
The sales come as part of an umbrella deal between Nielsen and the newly-formed e5 Global Media Holdings, according to The Wrap. Nielsen's business media initiative is struggling, and so the company decided to offload a family of brands that also includes the Adweek, Brandweek, Mediaweek and Backstage magazines.
One source tells the wrap the price was in the $70 million to $75 million range.
A couple of Nielsen magazines didn't make the cut. Editor & Publisher and Kirkus Reviews are slated to fold.
Nielsen also sold its Film Expo business, which mainly runs some film-related trade shows, to e5, The Wrap reports.
The turmoil in the magazine industry hit some of Nielsen's titles hard. The Hollywood Reporter had significant drops in readership -- both print and online -- The Wrap reports.
Several high-profile titles fell victim to the struggling industry earlier this year. Gourmet, Metropolitan Home, and Modern Bride have closed, and National Geographic killed its monthly Adventure publication.
No one is saying too much about the Nielsen deal yet, and e5 isn't offering any details of its plans for the magazines.
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The solid report comes a month after the retailer closed all of its Canadian operations.
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