Nielsen Business Media, owners of PDN, announced today that it had reached an agreement to sell eight of its properties, including Adweek, The Hollywood Reporter, Billboard and the Clio Awards to e5 Global Media LLC, a new company formed jointly by Pluribus Capital Management  and Guggenheim Partners. Photo District News, PhotoPlus Expo and IPN were not part of the sale.

At the same time, Nielsen announced it would cease publication of Editor & Publisher, a 109-year-old magazine covering the newspaper industry, and Kirkus Reviews, which publishes book reviews.

The properties moving to e5 Global are: Adweek, Brandweek, Mediaweek, The Clio Awards, Backstage, Billboard, Film Journal International and The Hollywood Reporter and Nielsen's Film Expo business: ShoWest, ShowEast, Cinema Expo International and CineAsia trade shows.

Pluribus Capital Management is a private equity partnership, and Guggenheim Partners is a global diversified financial services firm.

In a memo issued to employees remaining with the company, Nielsen Business Media president Greg Farrar said, "This move will allow us to strengthen investment in our core businesses – those parts of our portfolio that have the greatest potential for growth – and ensure our long-term success. We remain committed to building our trade show group and affiliated brands."