Bonnier Said to Buy Time4 and Parenting Groups
Bonnier Magazine Group, the Swedish-based media company that bought into the U.S. market in May last year with a 49 percent stake in enthusiast publisher World Publications, appears to have won the sale of the Time4 Media titles for between $100 million and $150 million. Bonnier is also buying the Parenting group.
“It will be announced in the next couple days,” says a source with knowledge of the deal. “Time Inc. is going with a strategic buyer and Bonnier is the likely winner.”
Second round bids were handed in on Monday, which means Time Inc. made up their minds very quickly, but Bonnier’s interest in both groups may have helped expedite the deal.
According to the source, Bonnier had the edge as both a strategic and a willing buyer of both the Time4 and Parenting groups. What Bonnier paid for the Parenting group could not immediately be determined. “That’s one of the advantages,” says the source. “Apart from the price, Time Inc. liked that the buyer was willing to buy both parts of the business.”
Time Inc. announced last September that it would be unloading the Time4 titles as well as the Parenting Group.
Bonnier is a 200-year-old company with approximately $2.5 billion in annual revenue.