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Reed Agreement with CBA Off
Jim Milliot -- 6/19/00

The day before its annual convention was set to begin last Friday, June 16, the Canadian Booksellers Association announced that it was re-opening negotiations for the purchase of the event, following a collapse in its agreement with Reed Exhibition Companies for that company to acquire the trade show. According to the CBA, the association is currently in discussions with Key Media Ltd. about acquiring the show. Key Media is the publisher of the Canadian monthly book publishing newspaper Quill & Quire.

John Lewinski, president of REC Canada, told PW that Reed "stood ready to close the deal, we even had money in a trustee account, but then the CBA made the abrupt, unilateral decision not to go ahead. We were given little notice and were very surprised." Lewinski added that Reed is "still intent in getting involved in the Canadian market and is studying its options."

CBA executive director Sheryl McKean said the CBA "recognized the potential to negotiate a much better deal on behalf of our members." Although the show's value dropped earlier this year when Chapters announced it was planning to hold its own trade show in 2000 and would not attend the CBA, McKean maintained that money was not the major factor in exploring a new deal. "It was lots of little situations that just added up," she said, offering as an example the belief that Key Media and CBA could work better to raise the profile of the association and independent booksellers.
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