Have You Noticed? There's Been a Flurry of Magazine M&A
Ten magazine and website deals in the last 24 days.
More than a few magazine and media executives spent the holidays putting the finishing touches on deal closures. We're only 3 weeks into January and there's been a flurry of M&A actionâ€”from decently big deals to small.
Here's a recap:
Today of course Meredith announced it's buying Allrecipes.com from Reader's Digest Association, advancing a deep dive strategy into the food vertical as fast as RDA is pulling away from it, having also bought Everyday With Rachael Ray from them. The deal closely followed Meredith's acquisition of FamilyFun from Disney Publishing earlier in the month.
Harry Stagnito has sold Stagnito Media to private equity firm Topspin LBO, which also owns his son's Vermont-based Moose River Media. The deal, says Stagnito, will allow the company to build out its marketing services and data and information products.
Edwin V. Avent's Heart & Soul magazine has been sold to a group of investors called Brown Curry Detry Taylor & Associates. BCDT's principals all have direct ties to the magazine, having worked for it in one capacity or another.
Hanley Wood is now owned by Oaktree Capital Management, Strategic Value Partners and Tennenbaum Capital Partners after going through a major recapitalization, cutting its debt from $410 million to $80 million.
In a retreat from the U.S. market, Future plc sold its U.S. group's Music Division, including 3 magazines, to NewBay Media for $3 million. Revenues for the group in Future's fiscal 2011 were about $13 million.
Grand View Media has taken over management of Shooting Sports Retailer magazine. While not technically a sale, Grand View may have an option to buy after a certain period of time and certain performance goals are met.
F+W Media is expanding its food vertical coverage, too. It bought World Tea Media, which produces the World Tea Expo as well as associated editorial products. Â
Vibe Holdings has been merged with BlackBook Media and Access Network, forming Vibe Media. The combined entity will be owned by the Yucaipa Johnson Fund, backed by Ron Burkle and Earvin "Magic" Johnson, and InterMedia Partners.
Bangor Metro, a regional magazine serving the Bangor, Maine region, has been sold to Cashman Asset Management.
-- Bill Mickey is editor of Folio:. Follow him on Twitter: @billmickey
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