This story was written by David Kaplan.
Sweden's Bonnier Corp. is hoping to close a deal to buy five Hachette Filipacchi Media U.S. titles, Folio reported (via PDN Pulse). Hachette has been looking to unload the titlesAmerican Photo, Boating, Flying, Popular Photography and Sound & Visionsince March.
Though ad pages have been downalong with just about everyone else in the magazine industrythe individual titles are still regarded as profitable. Hachette has been hoping to streamline its magazine offerings and concentrate its efforts on stronger titles like Elle, Woman's Day and Car and Driver. A sale has been looking more imminent lately, such as earlier this month, when 28-year Hachette vet Nick Matarazzo announced he was leaving Hachette as EVP, Group Publishing Director, Men's Enthusiast Network.
However, there is no final deal yet to sell the mags to anyone, Folio was told by Reed Phillips, a managing partner at media investment bank DeSilva+Phillips, which is managing the proposed sale for Hachette. Representatives for the two magazine companies also declined to confirm the sale talks were nearing an end. If it does work out, this would be Bonnier's third purchase in the past year. Back in September, Bonnier, which publishes Parenting and Baby Talk, acquired Working Mother Media from MCG Capital and founder Carol Evans. Then, in December, it purchased Scuba Diving magazine from F+W Media.
By David Kaplan