Nielsen Sells Billboard, Other Publications to e5

RADIO ONLINE | , , | :am CT

Only a few months after shutting down R&R, Nielsen has agreed to sell its lineup of trade publications including Billboard and The Hollywood Reporter. The company is selling eight publications to e5 Global Media, a new company formed by private equity firm Pluribus Capital Management, and Guggenheim Partners. Nielsen said James Finkelstein, who founded Pluribus this year, will serve as e5's chairman.

Included in the deal are Billboard, The Hollywood Reporter, Adweek, Brandweek, Mediaweek, The Clio Awards, Backstage and Film Journal. Nielsen will shut down Editor & Publisher and Kirkus Reviews, as well as keeping some media properties, including Contract Magazine and Progressive Grocer.

Finkelstein and Guggenheim Partners' Todd Boehly said in a joint statement, "We are all excited to acquire such a premier collection of media properties. These are unique brands that are already leaders in their respective fields and, with the additional financial and strategic resources that we will provide, they will be positioned to add enhanced content across their print, online and new media channels and to continue to deliver value to their subscribers and advertisers."

Nielsen Business Media President Greg Farrar added, "Divesting these titles allows Nielsen to focus its investment on its core businesses and those parts of our portfolio that have the greatest potential for growth, including our leading trade show group."

The transaction is expected to close by the end of the year.