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Bonnier To Acquire Time Inc's Time4Media, Parenting Group For Estimated $210-240 Million

The Time4Media and Parenting Group didn’t fit into Time Inc.’s plans but will help another publisher transform its business. Swedish publisher Bonnier Magazine Group is buying all 18 titles; Bonnier and its U.S. publishing partner World Publications say the move will make them one of the largest U.S. consumer magazine publishers with 40 titles and revenues over $350 million. No financial terms disclosed. (We have an update omn the financial below.)
In the announcement, Bonnier also emphasized the new media opportunities that come with the titles but provided no specifics. World CEO Terry Snow said the deal gives the companies “the potential to be the leading multimedia resource in our new and existing special-interest areas.” Titles include Parenting, Popular Science, Field & Stream and SKI.
Time Inc. announced plans to sell the special-interest titles last September in order to focus on large audiences and considerable bidder interest followed.
Update: The financial details will make their way into the public realm via Time Warner SEC filings eventually so not sure why Bonnier didn’t want it announced now. After speaking with someone familiar with the situation, safe to say the amount will be considerably less than the speculation from fall but only because that was off the mark. Time Inc. is getting a 10.9 multiple for the business with the sale price ranging between $210-240 million.
Related: <a href="http://www.paidcontent.org/entry/two-dozen-plus-show-interest-in-time-incs-niche-mags/" title="Two Dozen-plus Show Interest In Time Inc.