Swedish media giant buys 18 Time Inc. titles
Bonnier Magazine Group has acquired Time Inc.'s Parenting Group and Time4 Media titles, a total of 18 publications.
Through the transaction, the Stockholm, Sweden-based Bonnier and its U.S. magazine partner, World Publications, will become one of the leading consumer publishing groups in the country, with 40 titles and annual revenue of more than $350 million.
Under the agreement, the acquired titles join special-interest media company World Publication's collection of magazines, which includes Saveur, Spa and Islands.
This is Bonnier's third acquisition in the United States in the past year and its first major purchase of a magazine group after its partnership with World Publications. Bonnier has operations in more than 20 countries, including magazine divisions in Denmark, Norway, Finland and Spain.
The acquired magazines are Parenting, Babytalk, Popular Science, Field & Stream, Outdoor Life, Yachting, Motor Boating, Salt Water Sportsman, Skiing, Ski, TransWorld Skateboarding, TransWorld Snowboarding, TransWorld Motocross, TransWorld Surf, Ride BMX, Quad, Shot Business and TransWorld Business.
Editorial, marketing and sales staff will remain in New York, California and Colorado for the acquired titles.
The acquisition is subject to regulatory approval. J.P Morgan Securities Inc. acted as financial advisor to Time Inc., while AdMedia Partners Inc. acted as financial advisor to Bonnier.