Transaction

JEGI CLARITY Represents Reed Business Information-US In Sale Of Library Assets To Media Source

Date:
Deal Type:
Role:
Sectors:
  • B2B Information and Events

Ohio-based Media Source Inc. (www.juniorlibraryguild.com) announced today that it has acquired Library Journal and School Library Journal from Reed Business Information-US (www.reedbusiness.com/us). The acquisition includes all print and web products, services, supplements, and newsletters, including Library Hotline.

JEGI CLARITY (www.jegiclarity.com), the leading independent investment bank for media, information, marketing services and related technologies, represented Reed Business Information-US in this transaction and acted as its exclusive financial advisor.

“With this purchase, Media Source, best known for its ownership of Junior Library Guild and The Horn Book, Inc., adds substantially to its product offerings in the library market. Library Journal and School Library Journal are valuable magazines that deserve a corporate home focused on libraries,” said Randall Asmo, CEO of Media Source. “We respect the history and contribution of LJ and SLJ. Our goal is to build upon those strengths to provide a vital and comprehensive service to the librarian community.”

The Editorial and Advertising Sales groups will continue operations in New York City. Mr. Asmo continues, “Editor-in-Chief Brian Kenney and Publisher Ron Shank are important to the success of SLJ and LJ, and they will remain in their current roles. We believe that the aggregate businesses of SLJ, LJ, Junior Library Guild, and The Horn Book will jointly create a myriad of new opportunities in the marketplace. At the same time, our plan is to have each business unit continue to operate with complete editorial independence.”

Share this on: