Nielsen says it’s sold Adweek, Brandweek, Mediaweek, The Clio Awards, Backstage, Billboard, Film Journal International and The Hollywood Reporter.
The buyer is e5 Global Media Holdings, LLC, a new company formed jointly by Pluribus Capital Management and Guggenheim Partners.
e5 also acquired Nielsen’s Film Expo business, which includes the ShoWest, ShowEast, Cinema Expo International and CineAsia trade shows.
Nielsen also announced it will shutter Editor & Publisher and Kirkus Reviews. A spokesperson explained:
This move will allow us to strengthen investment in our core businesses – those parts of our portfolio that have the greatest potential for growth – and ensure our long-term success. We remain committed to building our trade show group and affiliated brands. These assets continue to be a key part of The Nielsen Company’s overall portfolio and we strongly believe they are positioned to grow as the economy recovers. In addition, we’ll continue to assess the strategic fit of our remaining portfolio of publications.
Who’s behind Pluribus Capital?
Pluribus Capital was founded in 2009 by James Finkelstein, George Green and Matthew Doull to focus on acquiring and managing industry leading media properties with high growth potential, particularly those with strong brand recognition across multiple platforms including digital, print and events. Guggenheim Partners is a privately held, diversified financial services firm. Both Pluribus and Guggenheim have strong track records of successfully managing investments in a variety of companies.
In an internal memo, a Nielsen Business Media exec [our tipster redacted his name] writes:
As a result of these decisions, many of our friends and colleagues within these businesses will be leaving the company or will begin to transition to the new ownership immediately. These venerable brands have long been an important part of our Business Media family, and we are pleased that e5 will continue to capitalise on the brands’ potential. The transition is expected to be complete by the end of the year.
I want to take this opportunity to offer heartfelt thanks to our colleagues who will be leaving the company for their dedication and commitment to Nielsen over the years. Please join me in wishing them well in their future endeavours.