After months of speculation, my alma mater, Billboard, has been sold by Nielsen to a group of private equity partners, in a deal estimated at $70 million. Nielsen also unloaded Hollywood Reporter, Backstage, Adweek, Brandweek and Mediaweek, The Clio Awards and a couple other titles. The company immediately shuttered 100+-year-old magazine Editor & Publisher, and Kirkus Reviews... sad.
Word is that the new owners intend to steer Billboard and Hollywood Reporter more toward a consumer audience—after Billboard's current hierarchy did just opposite this decade, branding it as a strict B-to-B brand, while the web site, billboard.com, was promoted as its consumer destination. Interesting... sort of.
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