Here at HOB we reckon they did. Fresh and flush from their sale of ALB to TR West they’ve gone to LN and purchased from them? HR Leader and Risk
Here’s the story / press release below.. but we’d bet our bottom $? that they have got these two publications very very cheap from LN who didn’t know what to do with them.
Key Media will now? use their Asia contacts to build ALB versions of the two mags and in 5 years time they’ll be either selling back to Reed or on to TR West at a huge profit
Read the LN MD’s? comments about the mags they sold – when will these people stop speaking this sort of gobbledegook? (sic)? Say it like it is. Be a man….
You don’t know how to make money out of the mags so you’ve sold them off on the cheap so not to lose any more money? and it’s really annoying that they’ll monetize something you couldn’t
We’re not always fans of Key Media her at HOB? but we will hand it to them they know how to play LN & TR West MD’s in this region.
Lexis Nexis offloads HR Leader and Risk magazines to Key Media
Lexis Nexis, the Reed Elsevier-owned publisher, is selling two of its magazines ? HR Leader and Risk ? to Key Media for an undisclosed sum.
The move shrinks Lexis Nexis?s media portfolio to two magazines ? Lawyer?s Weekly and OHS magazine.
Senior staff will shift from Lexis Nexis to Key Media with the titles.
Tyson Wienker, director of strategy & business development at Lexis Nexis Pacific, told Mumbrella: ?From our perspective, the transition of HR Leader and Risk magazines to Key Media positions the titles well for future growth. We want to focus our energies on our core audience ? the legal community.?
Key Media already publishes an HR title ? Human Capital. The B2B and consumer media company also owns Your Money Magazine, Your Investment Property, Your Mortgage and Australian Broker.
In a note to staff obtained by Mumbrella, Lexis Nexis Pacific CEO TJ Viljoen, wrote:
Following extensive strategic evaluation and review, it has been identified that HR Leader and Risk magazines are not closely aligned with LexisNexis future strategic positioning to achieve double digit growth. Key Media, a leading B2B and B2C magazine publisher, has acquired these titles as they are a good fit with their business model and are positioned well for growth.
I would like to advise that the impacted team members will be offered alternate employment with Key Media in a similar capacity and in a market sector positioned for future success of these publications going forward.
I would like to thank the team members of HR Leader and Risk magazines: Sarah O?Carroll, Paul Desmond and Ben Nice for their contribution to the business and wish them well in their new roles.
The media team, now consisting Lawyer?s Weekly and OHS Magazines, will report into Maggie Burke (Manager News & Business) as of next Monday, 20th June. We believe there are substantial similarities between the two business units and many synergies that they will be able to leverage.
This transfer to Key Media will position HR Leader and Risk magazines for future growth given the strong fit with advertising-based revenue models and common core professional audiences.
Key Media was unavailable for comment at presstime.
