Mumbai: US-based diversified media firm Nielsen Company on Friday said it would sell its eight brands, including The Hollywood Reporter and Billboard, to e5 Global Media, a new company formed by Pluribus Capital Management and Guggenheim Partners, for an undisclosed amount.
In a statement, Nielsen said it had signed a definitive agreement to sell its eight brands to e5 Global Media, which is formed jointly by Pluribus Capital Management, a media private equity partnership, and Guggenheim Partners, a financial services firm.
However, a Nielsen spokesperson declined to disclose the financial terms of the deal.
In addition to The Hollywood Reporter and Billboard, the other brands included in the sale by the company’s unit Nielsen Business Media are— Adweek, Brandweek, Mediaweek, The Clio Awards, Backstage and Film Journal International.
Also, e5 Global Media would acquire the company’s Film Expo business, which includes the ShoWest, ShowEast, Cinema Expo International and CineAsia trade shows. The acquisition would close 31 December, 2009, it added.
“Divesting these titles allows Nielsen to focus its investment on its core businesses and those parts of our portfolio that have the greatest potential for growth, including our leading trade show group,” Nielsen Business Media president Greg Farrar said.