Category Archives: Purchase/Sale

French magazine Hotel & Lodge changes hands

Hôtel & Lodge, a bi-monthly lifestyle and travel magazine covering the latest amongst prestigious resorts, boutique hotels as well as lodges and 5-star palaces has just been sold by its two main shareholders, the enthusiast magazine publishers Nivéales and Editions Larivière, to press entrepreneur Michel Comboul.

This travel magazine, launched in 2002, currently generates an estimated turnover of €700 000 with a circulation of 49 600 copies per issue (6x).

As a reminder, Michel Comboul is the former President and CEO of the French Riviera publisher Nice Matin, as well as head of the Syndicat de la Presse Quotidienne Régionale (“Association of Regional Newspaper Publishers”) and the Fédération Nationale de la Presse Française (“Association of French National Press Publishers”).


USA: Harman acquires Newsweek magazine for $1

It was just announced that Newsweek has finally been sold by The Washington Post Co. to 91-year-old businessman Sydney Harman for $1. 

A promise to keep the long-running title in tact is believed to have sealed the deal for Harman ahead of a host of other bidders including the former New York Daily News publisher Fred Drasner. The deal for the struggling title, which posted an $11 million loss in the first quarter of 2010, brings an end to 50 years of ownership by the Post Co.

The Washington Post Company’s chief executive Donald Graham said: “In seeking a buyer for Newsweek, we wanted someone who feels as strongly as we do about the importance of quality journalism.”

Reports suggest that The Washington Post will retain pension assets, liabilities and some employee obligations for magazine’s 300-strong staff.

As a reminder, Newsweek was first published in 1933.  And 77 years later, it is worth only a dollar…

Germany: Why Gruner + Jahr bought football mag “11 Freunde”

Gruner +Jahr announced earlier this week that it had bought the independent football culture magazine “11 Freunde” (11 friends, for the 11 players on a football/soccer team), based in Berlin.

According to a recent report by German trade publication MEEDIA, here are the five key reasons why the Hamburg magazine giant bought “11 Freunde“:

  1. 11 Freunde is a high-quality lifestyle publication that cover football and everything around it.  The editorial team of sports journalists is top-notch and the finished product is of premium quality in looks and editorial content.
  2. The 11 Freunde magazine has much “optical opulence”, as MEEDIA wrote, which refers to its glossy aspect, hence making it a great fit within the other G+J portfolio.  Plus, the magazine’s work has been heralded by its peers many times over at magazine awards (finishing #2 at Germany’s Lead Awards for instance).
  3. G+J Publishing Director Volker Breid and 11 Freunde’s editor on chief Phillipp Köster look like they are getting along very well.  And the Hamburgers has also reportedly promised total editorial freedom to the Berliners.
  4. The ad sales of 11 Freunde have lots of potential in G+J’s opinion. Handled in-house out of Berlin until now, the ad sales team will soon be joining the ranks for G+J Media Sales headquartered in Hamburg and will benefit from their own client and agency contacts.
  5. To start a new lifestyle magazine catering to sports enthusiasts would have cost G+J a heck of a lot more than to buy a 51% stake in 11 Freunde (although the official purchase price was not released).  According to MEEDIA, 11 Freunde has been profitable with revenues upwards of €1 million.

Now, the only thing that’s missing is why are the two owners of 11 Freunde, Philipp Köster (editor) and Matthias Hörstmann (Publisher) selling a controlling stake in their magazine so soon?  11 Freunde currently circulates 78 839 copies per issue, a figure that’s expected to keep growing under the new G+J ownership (circ. was up 10,% in December 2009 YoY).

USA: CurtCo Publishing has sold “Art & Antiques”

Malibu, California-based CurtCo Publishing has sold Art & Antiques magazine to Phillip Troy Linger, the founder and former publisher of Brentwood magazine. Financial terms of the deal were not disclosed. 

Linger has formed a new company called Art & Antiques Worldwide Media for which he will serve as president and publisher. The magazine’s corporate offices will be relocated to Wilmington, North Carolina.  Linger told magazine industry trade publication FOLIO that the “majority” of the magazine’s editorial and sales staff will make the transition under new ownership. Also, Art & Antiques’ frequency will go down to 10 times annually (from 11 times) with a combined December/January issue (the July/August issue is already combined). Art & Antiques currently circulates 26 374 copies per issue and it is expected to remain the same after the changes are implemented.

The deal marks the completion of CurtCo’s planned magazine divestitures. Last month, CurtCo, also publisher of the Robb Report, sold Gulfshore Life and Sarasota to Dan Denton, who had sold Gulfshore Media to CurtCo back in 2004. San Diego was later acquired by the title’s former president and CEO James L. Fitzpatrick, and Milt and Frank Jones, owners of Desert Publications Inc., which publishes of Palm Springs Life.

USA: Washington Post Co. is finally putting Newsweek for sale

The Washington Post Company announced today that it has retained Allen&Company to explore the possible sale of Newsweek magazine. The newsweekly was launched in 1933 and purchased by The Washington Post Company in 1961. Newsweek is an internationally known and respected publication, providing unique news, commentary and insight into political and social developments in the United States and around the world.

“The losses at Newsweek in 2007-2009 are a matter of record. Despite heroic efforts on the part of Newsweek’s management and staff, we expect it to still lose money in 2010. We are exploring all options to fix that problem,” said Donald E. Graham, chairman of The Washington Post Company. “Newsweek is a lively, important magazine and website, and in the current climate, it might be a better fit elsewhere.”

Current Newsweek editor Jon Meacham is rumored to be putting together his own bid for the magazine, according to the website The Awl.  Interesting…

Read the official press release here.