PW bought out by former publisher

<p><em>Publishers Weekly</em> has been bought out by a company formed by the magazine&#39;s former publisher George Slowik. Parent Reed Elsevier had been looking to sell off its magazine division for some time. </p><p>According to <em>PW</em>, <a href="http://www.publishersweekly.com/article/455461-Former_PW_Publisher_Georg... target="_blank">PWxyz now owns the website publishersweekly.com and Publishers Weekly Show Daily. </a></p><p>The magazine said PWxyz would retain &quot;all of PW&#39;s editorial, art, and advertising employees and the magazine will remain headquartered in New York City&quot;. </p><p>Cevin Bryerman will stay as publisher with Jim Milliot and Michael Coffey serving as co-editors. <br />Slowik ran PW in the late 1980s and early 1990s, leading the publication to record profits despite a poor economy.</p><p>In an interview with <em>Crains New York</em>, the new owner said that the magazine was profitable, and with its daily, weekly and monthly online newsletters, had a bigger audience than ever.&nbsp;</p><p>John Poulin, chief executive of PW&#39;s former owner Reed Business Information, said: &quot;Given George&#39;s history with <em>Publishers Weekly</em>, we believe this will be a great match.&quot; </p>