01 Jun 07. Reed Elsevier announced today that it is to exit the defence exhibitions sector. This portfolio of five shows is part of Reed Elsevier’s global Business division and represents around 0.5% of group annual turnover.
Sir Crispin Davis, Chief Executive Officer of Reed Elsevier, said : “Our defence shows are quality businesses which have performed well in recent years. Nonetheless, it has become increasingly clear that growing numbers of important customers and authors have very real concerns about our involvement in the defence exhibitions business.
“We have listened closely to these concerns and this has led us to conclude that the defence shows are no longer compatible with Reed Elsevier’s position as a leading publisher of scientific, medical, legal and business content.”
Reed Elsevier intends to complete its withdrawal during the second half of 2007, subject to honouring its obligations to partners, customers and other key stakeholders.
Comment: The first sign that Reed was preparing an exit from defence came at IDEX where the DMA expressed concern that pressure was being brought to bear from the medical side of Reed. Who the purchaser will be is another matter, perhaps a Management Buy Out may be the answer? Presumably this announcement will also put Reed out of the running to buy Jane’s.