Nielsen's US media & entertainment brands sold to e5

Nielsen Business Media, owner of The Bookseller, has announced the sale of Billboard, The Hollywood Reporter, AdWeek and a number of other media and entertainment brands to e5 Global Media LLC, a new company formed jointly by Pluribus Capital Management and Guggenheim Partners.

The Bookseller is not part of the sale. Managing Director Nigel Roby, said: "The Bookseller has an unique place in British publishing life and I am delighted we will continue to fulfil that role and build our business. Next year 2010 is going to be a very exciting year with the first Bookseller Industry Awards and the growth of our activities in the e-book market. Both of which demonstrate our ambition for the brand. Last week's FUTUReBOOK conference was a complete sell out and we have many new digital initiatives in the pipeline."

The Bookseller Industry Awards is the new awards scheme that combines the 'Trade Nibbies' and The Bookseller Retail Awards. It takes place in London  on May 17, the first night of the BA's Book Industry Conference.

Roby added: "This week's official Top 50 chart showed book sales, as measured by Nielsen BookScan's TCM, up 28% in value on last week. As our leader column suggested, there are grounds for cautious optimism. That is certainly the attitude we will be taking into the new year."