Publishers Weekly Acquired by Former PW Publisher George Slowik, Jr. and Partners

PWxyz, LLC Announce Acquisition and Growth Strategy
NEW YORK--(Business Wire)--
New York City-based PWxyz, LLC announced today that it has acquired Publishers
Weekly, publishersweekly.comand Publishers Weekly Show Daily from Reed Business
Information-US (www.reedbusiness.com/us).

The new company will retain all of Publishers Weekly editorial, art and
advertising employees and will maintain its headquarters in New York City`s
publishing hub. Cevin Bryerman as publisher, and Jim Milliot and Michael Coffey
as co-editors, will continue to lead the publication`s management team.
According to Slowik, PWxyz will leverage Publishers Weekly brand equity and
talent pool to extend the franchise to a wider electronic and international
footprint.

"I am very excited to be back at Publishers Weekly as e-books hit their tipping
point, workable translations become automated and as the Google book settlement
is completed," said Slowik. He added, "Publishers Weekly will benefit from a
lithe operation that can properly report on and interpret the implications of
this incredible evolution of the book business."

PWxyz has partnered with Mediapolis, a New York City-based web-engineering firm
that will quickly migrate the PW site to its more robust platform. The company
has also formed a partnership with Publishing Experts, a production consultancy
that will streamline workflow. They will invert the process by creating all
content electronically and then have the print product/s and all electronic
products, including syndication feeds and daily, weekly and monthly newsletters
flow from it in multi-lingual iterations. The upended production process will
allow for optimal efficiency, speed-to-market and a better subscriber
experience.

Slowik previously ran Publishers Weekly in the late eighties and early nineties,
and despite an economic collapse led the title to record profits. Coincidentally
the areas that led to its success - international, electronic rights (CD-ROM at
the time) and enhanced attention to reviews - are all in play again.

John Poulin, CEO of Reed Business Information-US said, "Given George`s history
with Publishers Weekly, we believe this will be a great match."

The Jordan, Edmiston Group, Inc. (JEGI) (www.jegi.com), the leading independent
investment bank for media, information, marketing services and related
technologies, represented Reed Business Information-US in this transaction and
acted as its exclusive financial advisor.

Hayfield Capital, LLC, advised Slowik and PWxyz on the transaction.

About PWxyz, LLC

PWxyz, LLC is a newly organized company led by President George W. Slowik, Jr.
and created to acquire Publishers Weekly magazine, Publishers Weekly Show Daily,
www.publishersweekly.com and all related assets.

About Mediapolis

Mediapolis www.mediapolis.com creates technology that simplifies the production
of high profile, high performance Web sites. Since 1994, Mediapolis has built
more than 275 sites for clients like The New York Times, Johnson & Johnson,
Volvo Cars, and Sony Music.

About Publishing Experts, Inc.

Publishing Experts, Inc. www.publishingexperts.com is the leading production,
manufacturing and workflow consultancy working with publishers. Founded in 1991
by President, Janet Mannheimer, PEI works with a broad array of magazine and
book publishers to establish best practice production practices at optimal
economics. PEI provides services from turnkey production to project rfp`s and
has been involved in more than 20 start-ups.

About Hayfield Capital, LLC

Hayfield Capital LLC (www.hayfieldcapital.com) is a boutique investment advisory
firm specializing in representation of small-cap, mid-cap, and early stage
public and private companies, and funds. Hayfield`s Media & Entertainment
practice is headed by Jacob Hill

About The Jordan, Edmiston Group, Inc.

The Jordan, Edmiston Group, Inc. (JEGI) of New York, NY www.jegi.com is the
leading provider of independent investment banking services for media,
information, marketing services and related technologies. Since 1987, JEGI has
completed nearly 500 high-profile M&A transactions for global and emerging
companies; entrepreneurial owners; and private equity and venture capital funds.

About Reed Business Information-US

Reed Business Information-US www.reedbusiness.com/us is a leading
business-to-business information provider of publications and web sites, as well
as custom publishing, directories and research. Reed Business Information-US is
part of Reed Elsevier (NYSE: RUK and ENL), a world leading provider of
professional information and workflow solutions in the Science, Medical, Legal,
Risk Management and Business sectors.

For PWxyz, LLC:
Fiona McRobert, 310-738-9889

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