.gif)
The decision by the Hamburg-based publisher, majority-owned by Bertelsmann, to walk away from the potential deal valued in the region of £1bn, comes as the global economy continues to be dogged by tough trading conditions.
A Gruner + Jahr spokesman declined to comment and an RBI spokesman was not available.
G+J is one of the biggest international publishers in the world, with more than 90 magazines, a newspaper and 26 websites.
Its decision to pull out of the second round of bids will be a blow to Reed Elsevier, which put its RBI unit, which includes titles Computer Weekly, Farmers Weekly and New Scientist, up for sale in February.
Final bids for TBI are expected to be reviewed at the start of October.
Arif Durrani, Media Week, 25 September 2008, 4:20pm
Gruner + Jahr withdraws from Reed bidding
LONDON - Gruner + Jahr (G+J) has pulled out of the bidding contest for Reed Elsevier's business-to-business division Reed Business Information, according to reports.
For sale: Reed Business Information titles were put on the market in February this year
All Comments
There are currently no comments.
To post comments please log in here
- Media Sales Executives, ProgrammeMaster
- c £20k + excellent commission, Central London
- Direct Response Media Account Director - Leading Media Agency, PFJ
- GBP42000-GBP46000, East London
- Group Head - Broadcast / Digital, Moriati Media
- c. £50,000 + bonus, Central London
- Senior Strategy Planning Director, PFJ
- To £90k, Central London
- Media Specialist - Client Side, PFJ
- To £50k, South East England
News By Email
You can sign up for our bulletins. Select bulletins you are interested in, enter your email adress an click the button below
Be the first to comment