RBI announces sale of New Scientist magazine to publishing consortium
‘In a world where science and technology is playing a more and more central role in people’s lives, providing an understanding of the accelerating pace of change in science is a huge growth opportunity for New Scientist’
The UK B2B publisher Reed Business Information today announced that they had divested their interest in New Scientist to Kingston Acquisitions Limited, a consortium that had previously acquired the Times Educational Supplement from News International.
London-based New Scientist is a weekly magazine, founded in 1956, and with a circulation of 129,585. This sale was first made public last month, but both the magazine and Reed announced this move officially today.
Bernard Gray, Louise Rogers and Matthew O’Sullivan have publishing experience, including positions with United Business Media and Immediate Media.
“RBI has been a fine steward of the New Scientist brand for many years,” Gray, executive chairman of the new company, said in a post on the New Scientist website. “We feel we can build on that heritage by combining the success our team has had in a numerous publishing ventures with the deep sector and market knowledge of the in-house team. In a world where science and technology is playing a more and more central role in people’s lives, providing an understanding of the accelerating pace of change in science is a huge growth opportunity for New Scientist.”
“This decision reflects RBI’s continuing strategic priority of focusing on its data and analytics business,” RBI said in its short statement on the sale.
RBI has moving away from B2B print magazines for a number of years, selling or closing down almost all its holdings in the US, where it was once the leading B2B publisher. RBI still generates much of its revenue from the US, but now through its products such as Accuity and FlightGlobal.
(Disclosure: I once worked for Cahners, shortly before it changed its name to Reed Business Information.)