This morning Nielsen Business Media announced it would cease operations for Editors & Publishers and the infamously beloved Kirkus Reviews. It’s been a sad day for many in the book business.
No details have been released yet, but Greg Farrar, president of NBM, said in a message to his colleagues that the transition should be finished by the end of the year.
According to Publisher’s Weekly, Nielsen will sell basically all of its major publications, including; Media and Entertainment Group, including Adweek, Brandweek, Mediaweek, The Clio Awards, Backstage, Billboard, Film Journal International and The Hollywood Reporter. These major publications have been sold to e5 Global Media Holdings, a new company formed jointly by Pluribus Capital Management and Guggenheim Partners. They’ve also agreed to acquire NBM’s Film Expo business, which includes the ShoWest, ShowEast, Cinema Expo International and CineAsia trade shows.
Farrar hopes this is a prosperous choice. Pluribus Capital Management and Guggenheim Partners appear to have a strong track record that could enhance the business of these brands.
Unfortunately, this is at the cost of Editors & Publishers and Kirkus Reviews.