Towards the end of last year it became clear that RBI, the parent company behind a number of magazine brands, including EDN and New Scientist, would be undergoing a sale and restructuring.
PMN has now seen a more concrete plan. In particular an internal memo to all RBI-US employees has been posted to our office. The note, which was sent on New Year’s eve states that RBI is in “advanced discussions to sell a number of titles to separate purchasers.” PMN understands that, depending on the success of this, the management will be announcing these sales in the next few months.
Because it is being sold in pieces, rather than as a whole entity, the memo states that this “unfortunately will result in title closures and job losses across the business during the first half of the new year.”
A subsequent memo, dated the 6th of January, has stated ” effective
Last year saw RBI had previously suspended ECN Asia. And it is not alone, several major titles, including Nikkei’s English language publications, have switched off their printers for the final time.
