Bonnier 'leading contender' to buy US magazines
James Savage · 23 Jan 2007, 12:36
Published: 23 Jan 2007 12:36 GMT+01:00
Time initially set a target of $240 million for the sale of a number of lifestyle magazines including Field & Stream, Outdoor Life and TransWorld Snowboarding, the New York Post reported.
The paper said that Bonnier is a likely frontrunner to seal the purchase, with Time Inc CEO Ann Moore saying she aims to sell to a strategic partner.
It is understood that Bonnier Publications, the family-owned company's magazine arm, is handling negotations. A further six companies are in the running to buy the magazines.
Bids for the publications closed on Monday.
Erik Månsson, information director at Bonnier in Stockholm, confirmed that the company was interested in the magazines, but would not confirm directly that the company had made a bid.
"We have said that we have an interest - we are always looking at different opportunities," he told The Local.
Månsson was unable to say whether the company was interested in all of the assets or just some of those being sold.
US media industry magazine Folio quotes sources saying that Time is unlikely to get more than a total of $200 million for the sale. Månsson said he was unable to comment on the value of the sale.
Bonnier Publications' market is currently active principally on the Nordic market, where it publishes around 15 titles.