Tag Archives: purchase

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…