Bonnier buys Working Mother Media
By Erina Lin, Tuesday 30 September 2008 at 23:18 :: Media Ownership :: #2375 :: rss
Bonnier Corp. has acquired Working Mother Media Inc., the publisher of Working Mother magazine, from MCG Capital and founding CEO Carol Evans. Financial terms were not revealed, according to Folio:.
Bonnier does not plan to fold Working Mother into its other publications, including Parenting and Babytalk, according to a company spokesperson.
There will be no layoffs due to the deal, Folio: reported.
Bonnier CEO Terry Snow said the deal “allows us to strengthen our foothold in the mom market and offer advertisers the most comprehensive variety of media platforms reaching mom consumers.”
The move is very strategic, Chris Shannon, managing director of Berkery Noyes, told Folio:. “Bonnier is building a strong women’s vertical and also has scale which is what Working Mother Media needed.”
Working Mother’s ad pages increased 19.2 percent over the first half of 2008, according to Publishers Information Bureau figures. The magazine is published eight times a year. Besides the magazine unit, Working Mother Media also has a conferences and events division, according to Folio:.
This is Bonnier’s first acquisition since the Swedish group combined its U.S. magazine partner, World Publications, with the 18 media properties acquired from Time Inc.’s Time4Media group last year, Folio: reported.
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