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Reed Elsevier puts Furniture/Today parent up for sale

By Furniture Today Staff -- Furniture Today, February 24, 2008

London — Reed Elsevier said last week that it plans to sell Reed Business Information, parent company of Furniture/Today.

Crispin Davis, CEO of the Anglo-Dutch conglomerate, said the move to divest the magazine publishing division is aimed at reducing exposure to advertising markets and cyclicality.

"RBI is a well-managed high-quality business as evidenced by the success of its online growth and control of costs," Davis said.

Reed Business Information owns a number of publications, including Variety and EDN.

Last year, the business had revenues of $1.7 billion and adjusted operating profits of $253 million, according to a company statement.

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