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MUMBAI:
The Anglo-Dutch company Reed Elsevier plans to sell its business-to-business
magazine division Reed Business Information (RBI) publishing
unit that includes almost 400 titles like Variety,
Publishers Weekly, Broadcasting & Cable
and Multichannel News.
The
company has put RBI on sale to reduce its exposure to "advertising
markets and cyclicality." It is also weighing options
of acquiring consumer information provider ChoicePoint for
$4.1 billion.
ChoicePoint
is a provider of information services for the insurance companies.
Variety
is the best-known brand in Reed's RBI division, which publishes
some 80 US titles alone. Though the company is planning to
sell the unit as a whole, it did not rule out a separate bid
for Variety.
Variety
was started in 1905 in New York as a weekly publication covering
the vaudeville circuit and was launched in 1933 as Daily
Variety in Hollywood.
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