Family-owned Stockholm publishing group buys Time special interest mags

Official word has confirmed the unofficial word that a Stockholm-based publishing company has pipped the other contenders at the post to buy the 18 special interest titles being sold by Time Warner's Time4Media and Parenting groups. The price -- which is not confirmed -- is said to be about US$200 million, less than had been expected or hoped for (as much as $300 million).

[UPDATE: The New York Post says the price was US$225 million.]

According to a story carried on mediabistro, Bonnier Magazine Group chair Jonas Bonnier sees this as making a leap into the big time:

"We are extremely pleased to have reached an agreement that elevates Bonnier to the highest echelon of consumer publishers nationwide. The potential synergies between the new properties and World's existing titles — as well as the corporate and individual growth that it will lead to — makes the future bright for all of us."

Through the transaction, Bonnier (a familly owned company with interests in 20 countries) and its U.S. magazine partner, World Publications, will become one of the largest consumer publishing groups in America, with 40 titles and annual revenue of more than $350 million and more than 1,000 employees. This is the third acquisition by Bonnier in the United States and its first in partnership with World.

The acquired magazines are : Parenting, Babytalk, Popular Science, Field & Stream, Outdoor Life, Yachting, MotorBoating, Salt Water Sportsman, Skiing, SKI, TransWorld SKATEboarding, TransWorld SNOWBOARDING, TransWorld MOTOCROSS, TransWorld SURF, ride bmx, QUAD, SHOT BUSINESS and TransWorld business. A release said all editorial, sales and marketing staffs will remain at their current offices, primarily in New York, California and Colorado.

World Publications publishes more than 20 magazines in the affluent lifestyle vein, such as Boating World, Cruising World, Garden Design, Islands, Saveur, Sportfishing and Florida Travel & Life.