Friday, February 22, 2008
Even industry bibles are not immune
If you want to get nice and depressed about the state of trade publishing, look no further than Reed Elsevier's announcement yesterday that it was getting out of the business, looking to sell magazines including entertainment industry bible Variety, Broadcasting and Cable, Multichannel News and Publishers Weekly. The company's CEO says it's looking at "reducing exposure to advertising markets and cyclicality." It's not exactly news that advertising is cyclical. What he doesn't seem willing to say is that print trade publishing is on a downward trend it may never get out of.