New York City-based PWxyz, LLC, a newly organized company, has acquired Publishers Weekly, Publishers Weekly Show Daily, and www.publishersweekly.com from Reed Business Information-US (www.reedbusiness.com/us). The new company, which is led by President George W. Slowik, Jr., will retain all Publishers Weekly editorial, art, and advertising employees and will maintain its headquarters in New York City’s publishing hub.
PWxyz will leverage Publishers Weekly’s brand equity and talent pool to extend the franchise to a wider electronic and international footprint. “I am very excited to be back at Publishers Weekly as e-books hit their tipping point, workable translations become automated, and the Google book settlement is completed,” said Mr. Slowik.
Mr. Slowik previously ran Publishers Weekly in the late 1980’s and early 1990’s. Despite an economic collapse during these periods, he led the title to record profits. John Poulin, CEO of Reed Business Information-US, said, “Given George’s history with Publishers Weekly, we believe this is a great match.”
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.