Source: Bonnier, Hachette Nearing Deal
Sale would mark Bonnierâ€™s third acquisition in less than a year.
Winter Park, Florida-based Bonnier Corp. is said to be finalizing a deal to acquire Hachetteâ€™s American Photo, Boating, Flying, Popular Photography and Sound & Vision, according to knowledgeable sources. The titles have been on the block since March.
The news was first reported by Nielsenâ€™s Photo District News. Reed Phillips, a managing partner at DeSilva + Phillipsâ€”the media investment firm thatâ€™s representing Hachetteâ€”said no deal has been finalized.
When contacted by FOLIO:, a Hachette spokesperson said the company has â€śreceived interest for the purchase of our enthusiast titlesâ€ť but declined to comment on negotiations with Bonnier. â€śWhen we have something to announce, we will issue a statement,â€ť the spokesperson wrote in a statement. â€śWe have been open to exploring opportunities because these established niche brands are leaders in their categories and may receive the right support and find synergies in a group that owns complementary assets in these enthusiast areas.â€ť
A Bonnier spokesperson declined to comment other than to say the publisher is â€śconstantly evaluating possible acquisitions in our strategy to further expand the company.â€ť
Hachetteâ€™s enthusiast titles have all suffered ad page losses through the first quarter but are said to still be profitable.
If the deal is finalized, it would mark Bonnierâ€™s third acquisition in recent months. In September, Bonnier bought Working Mother magazine publisher Working Mother Media Inc. from MCG Capital and founding CEO Carol Evans. In December, it purchased Scuba Diving magazine from F+W Media.
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