Reed Elsevier forming JV with IDG to import trade journals to China

BEIJING (XFN-ASIA) - Reed Elsevier Plc (REL) is teaming up with rival International Data Group (IDG) to crack the mainland publishing market after failing to make substantive inroads on it own, the South China Morning Post reported, citing a senior company executive. The Hong Kong-based newspaper said the companies will form a 50-50 joint venture to import 16 Reed titles into China, covering topics ranging from construction to consumer electronics, over the coming year. "By partnering with IDG, we can make our move faster than on our own," James Casella, chief executive of Reed Business Information, a subsidiary of the Anglo-Dutch firm, was quoted as saying. "They have much better understanding on what is going on in China." Financial details were not provided.

Source: AFX Asia

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Howard Sholkin
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