Reed Elsevier now RELX Group plc, as well as new company structure
The company, once a major player in the U.S. B2B magazine industry, still is one of Europe’s largest publishers and events companies, reporting £5.77 billion in revenue for 2014
The Anglo Dutch media company Reed Elsevier today renamed itself RELX Group plc and announced a simplified corporate structure. The company also reported earnings in line with forecasts.
Reed Elsevier was once a major player in the U.S. trade magazine market after a series of acquisitions including that of Cahners. But mismanagement, and poorly time and ill-advised tech acquisitions, forced a series of divestitures (I got caught up in one of the first) that whittled away at its U.S. assets. In 2012, Reed sold the Variety group to Penske Media. “With Reed Business Information’s increasing focus on data services and the sale of our other US print magazines, it makes sense for us to sell the business,” Reed’s chief executive of the trade magazine division said at the time.
But Reed Elsevier, now RELX, is still one of Europe’s biggest players, reporting full year revenue of £5.77 billion, and an operating profit of £1.74 billion.
“We are now extending our efforts to modernise and simplify the company to our corporate structure, our share listings, and our corporate entity names. We are announcing a set of changes that represent a significant simplification without impacting the economic interests of our shareholders,” CEO Erik Engstrom said.
In their presentation, RELX tried to diagram their new structure, though with the loss of so many art directors through the years, the company seems a little light on design talent: