Bonnier AB, a family-owned media group based in Sweden with operations in more than 20 countries and a particular focus on northern Europe, has reached an agreement to purchase Time4 Media and The Parenting Group, from Time Inc. The combined operations have sales of about $265 million and publish 18 titles with a circulation of more than 12 million copies. Included in the transaction are Field & Stream, Skiing, SKI, and TransWorld, amongst others.
In addition, Bonnier is currently part owner of the magazine company World Publications, which publishes some 20 special-interest magazines in the fields of sports, fishing, and boating. According to Bonnier, the company intends to combine Time4 Media, The Parenting Group, and World Publications into one publishing group, which will have sales of $350 million and approximately 1,000 employees. Bonnier will be majority owner in the new company, while Terry Snow, the founder of World Publications will hold a minority interest.
