'Variety' Publisher Reed Elsevier Seeks to Exit Publications Business
Reed Elsevier, the publishing company behind Variety, Publishers Weekly and other trade publications, announced Thursday that it is looking to sell those businesses.
The London and Amsterdam-based firm seeks to sell its Reed Business Information unit and acquire consumer information provider ChoicePoint for $4.1 billion.
Variety, which tracks the movie industry, is the best known publication among the 400 others being sold.
Reed Elsevier says it is selling the unit to reduce its exposure to advertising markets and publishing's cyclical nature.
ChoicePoint focuses on data analysis for insurance companies, among others.