Advance Seals Times Magazines Deal

01 February 2001

The negotiations between Advance Publications - whose publishing holdings include Condé Nast - and the New York Times Company [WAMN: 30-Jan-01] have resulted in a done deal, the terms of which were not revealed.

After its initial overtures early in 1999 got the brush-off, Advance is now the proud owner of the remanants of the once mighty Times Magazine Group – the best-selling Golf Digest, Golf Digest Woman, Golf World and Golf Shop Operations, plus a string of golf schools and a website.

The NYT group has progressively disposed of its magazine assets, in 1994 unloading its women’s titles on Gruner & Jahr USA, and three years later selling its main sports magazine stable to Miller Publishing.

News source: Advertising Age - Daily Deadline