JEGI Represents Reed Business Information-US in Sale of Publishers Weekly
New York, NY, April 5, 2010 New York City-based PWxyz, LLC, a newly organized company, has acquired Publishers Weekly, Publishers Weekly Show Daily, and www.publishersweekly.com from Reed Business Information-US (www.reedbusiness.com/us).
The new company, which is led by President George W. Slowik, Jr., will retain all Publishers Weekly editorial, art, and advertising employees and will maintain its headquarters in New York City’s publishing hub. Cevin Bryerman as publisher, and Jim Milliot and Michael Coffey as co-editors, will continue to lead the publication’s management team.
PWxyz will leverage Publishers Weekly’s brand equity and talent pool to extend the franchise to a wider electronic and international footprint. “I am very excited to be back at Publishers Weekly as e-books hit their tipping point, workable translations become automated, and the Google book settlement is completed,” said Mr. Slowik. He added, “Publishers Weekly will benefit from a lithe operation that can properly report on and interpret the implications of this incredible evolution of the book business.”
Mr. Slowik previously ran Publishers Weekly in the late 1980’s and early 1990’s. Despite an economic collapse during these periods, he led the title to record profits. John Poulin, CEO of Reed Business Information-US, said, “Given George’s history with Publishers Weekly, we believe this is a great match.”
The Jordan, Edmiston Group, Inc. (JEGI) (www.jegi.com), the leading independent investment bank for media, information, marketing services and related technologies, represented Reed Business Information-US in this transaction and acted as its exclusive financial advisor.
About Reed Business Information-US
Reed Business Information-US (www.reedbusiness.com/us) is a leading business-to-business information provider of publications, web sites, custom publishing, directories, and research. RBI-US is part of Reed Elsevier (NYSE: RUK and ENL), a world leading provider of professional information and workflow solutions in the Science, Medical, Legal, Risk Management, and Business sectors.
About The Jordan, Edmiston Group, Inc.
JEGI of New York, NY is a premier independent investment bank for media, information, marketing services and related technologies. Since 1987, JEGI has completed nearly 500 high-profile M&A transactions for global and emerging companies; entrepreneurial owners; and private equity and venture capital funds. For more information, visitwww.jegi.com.