Bonnier Corp. Thursday announced its acquisition of F+W Media’s Scuba Diving magazine. Financial terms of the deal were not disclosed.
As part of the acquisition, Bonnier has created the Bonnier Dive Group that, in addition to Scuba Diving, will include Sport Diver and the Undersea Journal, a title it publishes for PADI, a certification agency. The diving division will be managed by Bonnier’s enthusiast group.
Scuba Diving publishes 11 times per year and has a ratebase of 130,000.
Bonnier will move the magazine from Savannah, Georgia to its offices in Winter Park, Flordia. Bonnier is "evaluating" the staffing situation, a spokesperson said.
According to CEO Terry Snow, the acquisition is a “perfect strategic fit” for Bonnier. David Nussbaum, chairman and CEO of F+W, said the deal was made after a “considerable portfolio review” and is in keeping with the company’s shift from a traditional publisher to an integrated media company.
This deal marks Bonnier’s second recent acquisition. In September, the company purchased Working Mother magazine from MCG Capital and founding CEO Carol Evans. Bonnier also publishes Parenting and Babytalk magazines.