Dun & Bradstreet To Sell Technical Publishing Concerns
Sep. 09, 1986
NEW YORK (AP) _ Dun & Bradstreet Corp. on Tuesday said it plans to sell its Technical Publishing Co. for $250 million to a Massachusetts-based subsidiary of Britain's Reed International.
An agreement in principle has been reached with Cahners Publishing Co. of Newton, Mass. and a final sale pact is expected within 30 days, Dun & Bradstreet said in a written announcement.
Technical Publishing properties include 20 trade and professional magazines and related services that serve the industrial, medical and technology markets. Dun's Business month is not included in the sale.
Dun & Bradstreet, one of the world's largest marketers of business information and services, had worldwide operating revenue of $2.8 billion in 1985. Some of its holdings include Nielsen Market Research and the credit rating agency Moody's Investors Service, neither of which are included in the sale agreement.
The divestiture of the Technical Publishing properties will allow Dun & Bradstreet to continue its strategy of concentrating its resources on the core information industry, said Charles W. Moritz, the company's chairman and chief executive officer.
Cahners parent is a London-based international company, with mainly publishing interests, which had sales of nearly $3 billion in the financial year ended March 31. Among its operations in the United States, besides Cahners 34 trade magazines, are Reed Exhibitions, an organizer of trade shows, and R.R. Bowker, the leading supplier of information for the book trade in the United States.
Reed International recently completed the acquisition of American Baby Inc., a firm that publishes information for and provides communications services to other companies seeking to reach the expectant and new-parent market.
Among the Technical Publishing properties to be sold are the American Journal of Medicine, the American Journal of Surgery, Datamation, Electric Light & Power, Graphic Arts Monthly, World Construction and World Mining Equipment.