Bonnier Corp. acquires Working Mother
Bonnier Corp. has acquired Working Mother Media Inc., publisher of the magazine Working Mother. The acquired company also produces a number of events and conferences, as well as the research initiative “The 100 Best Companies for Working Mothers.”
Working Mother Media will form a new division of Bonnier Corp., but the sales team will work closely with Bonnier's Parenting division — home to Parenting and Babytalk magazines — on a number of consumer marketing and reader initiatives. Working Mother is published 8 times a year and has a total paid and verified circulation of 831,150, per the magazine's June 30, 2008 publisher's statement.
“Since Parenting and Babytalk are two of our biggest brands, acquiring another mom-focused property was a perfect strategic fit,” said Dean Turcol, VP of corporate communications, Bonnier. “It demonstrates our commitment to the parenting category and expands our reach into that core category.”
As for Working Mother, Turcol noted that with Bonnier, the company “…has access to deeper investment resources and broader internal support to grow its brands. Bonnier is a $350 million company, and being part of a larger company is smart in today's financial times.”
Working Mother Media reported revenue of just under $25 million in 2007. All employees of the acquired company, including founder and CEO Carol Evans, will stay on. Evans will serve as president of Bonnier's Working Mother group and will report to Jonas Bonnier, president and CEO of the Bonnier Group.
Turcol said the acquisition aligned with Bonnier's strategy of being “bullish” about acquisitions, but did not signify a change in strategy or objective for either company. This acquisition is Bonnier's first since forming in the US in 2007.