Reed Infomedia India Ltd, the JV between BSE-listed Infomedia 18 Ltd and B2B publisher Reed Business Information, has discontinued operations. The company as a legal entity still stands, even though operations ended on 28 February, a person familiar with the situation said. The legal process to dismantle the JV will begin shortly.

SEE ALSO: Reed Business Information Exiting Infomedia JV?

We reported in January that Reed Business Information, part of the global publishing and information services giant Reed Elsevier (NYSE: RUK) Group Plc., might pull out of the Indian JV.

Started in 2005, Reed Infomedia published four magazines and a portal—New Scientist, JCK, Logistics Management, Twice and franchisebusiness.in. Reed and Infomedia are in discussions to decide which of these titles can be published by the latter under a license. A board meeting of the JV is scheduled to happen sometime in March, the person, who asked not to be named, said. Infomedia is learned to have agreed in principle to publish JCK and Logistics Management under a license. So looks like these two titles will continue uninterrupted, while the future of the other titles will be clear only after the board meeting. 

The JV used to employ some 35 people, of which, some 12 have been absorbed by Infomedia 18. Reed Business Information held 51% in the JV, with Infomedia18, majority owned by TV18, holding the rest.

A TV18 spokesperson declined comment.

We had reported earlier that Infomedia 18 CEO Prakash Iyer was leaving by the end of March. Indications are that Suresh Ramakrishnan, who currently heads Reed Infomedia, may also not be part of the company once the JV is dismantled. Ramakrishnan declined comment.