Pilot Light

Inferno is a PR consultancy. This is not. This is Inferno’s blog.

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fun in the sun

An announcement echoed through the Inferno newsroom on Thursday afternoon that, at the time, raised questions on the future of Business to Business media. Reed Elsivier was announcing their preliminary profit results for FY2007 and amongst the statement told shareholders, staff and any PRs listening, that they would be divesting in their business arm, Reed Business Information (RBI).

In the office we immediately began a collection for some of the journalists we have worked more closely with over the years, from Poultry World and Truck & Driver magazine, and began to mourn, was this the death of the trade media?

With the press currently making bold, sensationalist statements based on a thin veil of evidence, such as the onset of the next great depression following Jerome Kervial at SocGen losing £3.5 billion in one trading day, we thought it wouldn’t be long until the bell would be tolling for our comrades in the trades. But being the prudent PRs we are, we decided to investigate this news and see whether the end was nigh, or if this was merely a new beginning.

In the same statement announcing their divestment in their business wing, Reed Elsivier also announced revenue growth of 6%. Over the past 12 months that counts for revenues in excess of £4.5 billion. Further to this statement they announced that the decision to clock off the business media wing was to streamline their operations as RBI is not a loss making arm and has, in current years, seen great growth, especially in their move online with some of their titles.

Subsequently Apax Partners, the parent company of Incisive Media, has been seen be sniffing around RBI’s pedigree, so for now the future for our friends in South London looks a little safer.

For now though we would like to show our support for our counterparts at China Chemicals and Health & Beauty Salon magazines and let you know, whatever journey you go on in the next 6 to 12 months we will be right there with you.

Matt L

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Written by pilotlight

26/02/2008 at 11:30 am

Posted in Business, Human Resources, Media, PR, Tech

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