JEGI Represents Reed Business Information-US in Sale of Library Assets to Media Source
New York, NY March 1, 2010 – Ohio-based Media Source Inc. (www.juniorlibraryguild.com) announced today that it has acquired Library Journal and School Library Journal from Reed Business Information-US (www.reedbusiness.com/us). The acquisition includes all print and web products, services, supplements, and newsletters, including Library Hotline.
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.
“With this purchase, Media Source, best known for its ownership of Junior Library Guild and The Horn Book, Inc., adds substantially to its product offerings in the library market. Library Journal and School Library Journal are valuable magazines that deserve a corporate home focused on libraries,” said Randall Asmo, CEO of Media Source. “We respect the history and contribution of LJ and SLJ. Our goal is to build upon those strengths to provide a vital and comprehensive service to the librarian community.”
The Editorial and Advertising Sales groups will continue operations in New York City. Mr. Asmo continues, “Editor-in-Chief Brian Kenney and Publisher Ron Shank are important to the success of SLJ and LJ, and they will remain in their current roles. We believe that the aggregate businesses of SLJ, LJ, Junior Library Guild, and The Horn Book will jointly create a myriad of new opportunities in the marketplace. At the same time, our plan is to have each business unit continue to operate with complete editorial independence.”
About School Library Journal (SLJ): Each monthly issue of SLJ includes reviews of children’s and young adult books, audio, and multimedia products, as well as news, features, and columns that deliver the perspective, resources, and leadership tools necessary for its readers to play indispensable roles in their schools and libraries. The magazine is read by more than 100,000 librarians who work with students in public and school libraries.
About Library Journal (LJ): Founded in 1876, Library Journal is the oldest and most respected publication covering the library field. Over 100,000 library directors, administrators, and staff in public, academic, and special libraries read LJ. In its 24 annual issues, LJ reviews nearly 7,000 books and provides coverage of technology, management, policy, and other professional concerns.
About Media Source Inc.
Media Source, with headquarters just outside Columbus, OH, is the parent company of Junior Library Guild (JLG) and The Horn Book, Inc. JLG is a review and collection development service that provides new release children’s and young adult books to more than 17,000 school and public libraries. The Horn Book, Inc. reviews children’s and young adult books in two print publications: The Horn Book Magazine and The Horn Book Guide.
About Reed Business Information-US
Reed Business Information-US (www.reedbusiness.com/us) is a leading business-to-business information provider of publications and web sites, as well as custom publishing, directories and research. Reed Business Information-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.
The Jordan, Edmiston Group, Inc. (JEGI) of New York, NY is the leading provider of independent investment banking services 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, visit www.jegi.com.