Thread: Billboard Sold

From HDD:

BILLBOARD SOLD: Nielsen Business Media has sold a variety of its publications, including Billboard and the Hollywood Reporter to e5 Global Media Holdings, a new company formed by James Finkelstein’s Pluribus Capital Management and financial services firm Guggenheim Partners for an estimated price of $70 million. Rupert Murdoch's son, Lachlan, reportedly dropped out of the purchase group at the 11th hour. The sale also includes Adweek, Brandweek, Mediaweek, The Clio Awards, Backstage and Film Journal International. As part of the sale, Editor & Publisher and Kirkus Reviews will be discontinued. A number of staffers from all publications have been summoned to mid-day meetings. Surprisingly, Billboard is one of the group's healthier publications and may experience the lightest staff cuts. (12/10p)