Reed Business Information has revealed plans to divest a bulk of the its US publications including shelter powerhouse Interior Design magazine. RBI will hold on to Reed Construction Data US & Canada, RS Means, Variety, Marketcast, LA411 and Buyerzone. The rest of the US titles will be sold, including Interior Design, headed by publisher Mark Strauss and editor-in-chief Cindy Allen. In a memo to staffers, RBI global CEO Keith Jones states:
…we have to contend with a far harsher advertising environment than any of us have experienced before and, in such a climate, we have to focus not just on innovation and efficiency, but also on ensuring that our portfolio is well-matched with our long-term ambitions.
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This news is like three weeks old.