Reed tries to further sweeten RBI sale as no completion in sight
Posted
by
Dominic Ponsford
on 28 October 2008
at 11:34
Tags: B2B Magazines, Consumer Magazines, Journalism, Magazines, Media Business
Reed is already offering £213m of financing to prospective buyers. Now the Telegraph is reporting that it is offering “significantly more” to get the deal through in the current challenging market conditions.
RBI owns titles including Variety and New Scientist as well as a sizeable B2B division in Sutton which employs several hundred journalists on titles such as Farmers Weekly and Travel Weekly.
Second-round bids for RBI were made last month - but the deadline for the next stage of bidding remains unclear, the Telegraph reports.
Those still in the bidding include Bain Capital - which has taken on former Economist Group chief executive Helen Alexander to advise on the deal.
Tags: B2B Magazines, Consumer Magazines, Journalism, Magazines, Media Business
