Reed Elsevier (NYSE: RUK), the Anglo-Dutch B2B media giant, which just announced a $4.1 billion acquisition and its 2007 results, also dropped another big one: it is going to sell off its Reed Business Information arm, “reducing exposure to advertising markets and cyclicality”. RBI owns some big brands such as Variety, New Scientist, Publishers Weekly, Broadcasting & Cable, Multichannel News and other publications spanning media, construction, financial, science and many other B2B markets. It has divisions in US, UK, Netherlands, France, Australia and other countries.

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The Reed Exhibitions business will be retained.

According to Sir Crispin Davis, CEO of Reed Elsevier, “RBI is a well-managed high quality business as evidenced by the success of its online growth and the control of costs. Its advertising revenue model and the inherent cyclicality fit less well however with the subscription-based information and workflow solutions focus of Reed Elsevier’s strategy.” The precise method of divestment of RBI will be the determined in the coming months.

Some numbers on RBI from the 2007 earnings results (PDF results here):
—For 2007, advertising accounts for approximately 60 percent of RBI revenues.
—It had revenues of $1.76 billion and adjusted operating profits of $231 million.
—The RBI magazine and information businesses saw revenue increase of 4 percent, with online services growth of 20 percent more than compensating for a 2 percent decline in print as the business migrates online.
—Online revenues now contribute 30 percent of RBI’s revenues.
—In the US, RBI underlying revenue was flat, with online revenues growing rapidly, offset by the decline in print including discontinued titles. Advertising revenues grew rapidly across community sites, up 31 percent.

Davis said that Reed was not yet in talks with potential buyers, adding that given current market conditions he might have to be patient in terms when any deal gets done, reports Reuters. “We don’t have any particular buyer in mind, we do think there will be a wide and strong level of interest in this business both from strategic and private equity buyers, we are very open minded on who and when,” he added.