Reed Business Information-US continues its string of magazine divestitures with the sale of Home Accents Today, Furniture Today and six sister b2b pub and related websites to Sandow Media. The Jordan, Edmiston Group, Inc. was the banker on the deal — its fourth representing RBI-US. The terms of the transaction were not disclosed. RBI-US began the process of selling of a large swath of its mag titles last summer, when it put Broadcasting & Cable, Multichannel News and TWICE on the block; NewBay Media eventually bought those properties in December.
Update: Sources tell paidContent to expect RBI-US to do one or two more deals over the next few weeks.
In the past two months, RBI-US sold nearly two dozen titles, including four mag brands to Canon Communications; it sold ten of its Asian B2B publications to Ten Alps, the multimedia production house founded by Bob Geldolf; it also handed two of its library science periodicals to MediaSource. For now, the fate of RBI-US’ Publishers Weekly remains uncertain.
As for this latest deal, the Boca Raton-based Sandow has tended to focus on luxury brands and made some news a few years ago when it briefly considered buying now-defunct Harvard-oriented lifestyle magazine 02138 from Atlantic Media.
As part of taking over these new design mags, Sandow intended to hire more than 100 staffers and expand its current New York City operations. In addition, RBI-US’ Greensboro, NC facility will also become part of Sandow.