The Hollywood Reporter, Billboard, Adweek and other trade publications at Nielsen Nielsen Business Media are being sold to an investment group headed by hedge fund Guggenheim Partners and investment firm Pluribus Capital Parters. Editor & Publisher and Kirkus Reviews will be shut down.

“The move will allow us to strengthen investment in our core businesses–those parts of our portfolio that have the greatestest potential for growth,” said Nielsen Business Media CEO Greg Farrar in breaking the news of the shutdowns to stunned staffers this morning.

Pluribus is an investment company comprised of News Communications CEO Jimmy Finkelstein; Matthew Doull, a step-nephew of Conrad Black; and George Green, the former president of Hearst International Magazines.

At one point, Lachlan Murdoch, through his investment firm Illyaria, was involved. As reported by The Post, he dropped out at the last minute and was replaced by Guggenheim, an investment firm that recently hired Alan Schwartz, the last CEO of Bear Stearns, as its chief executive.