Reed in talks to sell magazines

PUBLISHING and events group Reed Elsevier is in advanced talks to sell some of its loss-making trade magazines and will close other titles during the first half of 2010, according to an internal memo.

John Poulin, chief executive of Reed Business Information in the United States, told staff he expected to announce the sale of various titles to separate buyers in the next few months, after the company failed to sell the whole business in 2008.

"This unfortunately will result in title closures and job losses across the business," Poulin wrote in a memo.