Cataloger Buys Signals, Wireless From Target
Details of the sale were not disclosed.
A source familiar with the deal said it had been in the works for about two months.
"Signals and Wireless are venerable titles that have been around for many years and were originally part of Minnesota Public Radio, then were sold to Rivertown Trading, [which] then sold [them] to Target Corp.," the source said. "Signals and Wireless are eclectic gift catalogs of upscale gifts appealing to the well-read, middle-age, affluent catalog buyer."
The source added that Target is focusing on its Marshall Field's brand and its target.direct Internet operation.
Additional information regarding the books provided by the source included Signals being published about 10 times a year while Wireless has been dormant.
"Both were acquired by Target in 1998, [and] shortly after it began to focus on the Signals catalog," the source said.
A message left with Target Corp. was not returned. Universal Screen Arts, Hudson, OH, provided no additional details regarding the deal. Libey-Concordia, Philadelphia, an investment banking firm, represented Target in the deal.