Bonnier Closes Time4 Media Deal (posted 3/5/07)
New group boasts 40 titles and more than $350 million in revenue.
The Bonnier Group today announced that is has closed the acquisition of
18 Time4Media titles and merged those magazines with World Publications
to form a new publisher called Bonnier Corp. The acquisition is
estimated at between $100 million and $150 million.
World founder and president Terry Snow will serve as CEO of Bonnier
Corp., which will offer 40 magazines and generate revenue of more than
$350 million per year. World COO Dan Altman will serve COO of Bonnier
Corp. Jonas Bonnier, executive vice president of Bonnier's global
magazine group, will serve as chairman of Bonnier Corp.
The corporate headquarters will be located in Winter Park, FL, with offices in New York, Colorado and California.
AdMedia partners and J.P. Morgan Securities handled the deal.