Reed Sells Travel Weekly
JULY 7, 2009 - Reed Business Information has agreed to Travel Weekly and its other travel titles is to Holiday Autos founder Clive Jacobs.
RBI said the deal, for an undisclosed sum, is expected to complete early in August and involves all of its travel titles, including Gazetteers.com and Travolution.
The acquisition was orchestrated by Simon Ferguson, former publishing director of travel portfolio at RBI. He will become chief executive of the newly-acquired business, TW Group Ltd.
Clive Jacobs, chairman of the TW Group, said: "I am delighted to have the opportunity to acquire the leading publications and information services in the travel and tourism industry, and look forward to helping Simon and his successful team build on the group's market leadership."
Simon Ferguson: "This is a very exciting development for all those involved with the TWgroup and for the whole of the travel trade."
Mr Jacobs said his new management team at TW Group Ltd would include three non-executive directors: Michael East, travel industry management consultant and entrepreneur; Colin Morrison, who has managed international media businesses at RBI, NatMags, Future and Emap; and Ian Findlay, mergers and acquisitions director at Ariadne Capital and former director of Corporate Development at Emap plc, and development director at RBI.
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