Times Mirror Magazines, publisher of a string of specialist US consumer titles such as Field & Stream, Ski Magazine, Golf Magazine and Snowboard Life, has been put up for auction by its new owner, Tribune Group.
Among the bidders is UK publishing and radio group Emap, eager to extend its portfolio of American consumer interest publications. It will encounter hot competition from several other would-be purchasers, including US publishing groups Primedia and Ziff-Davis.
Time Mirror’s consumer titles generate around $279 million in annual revenues and are said to reach some 55m people every month. Analysts say the publications would complement Emap’s existing US stable which was founded last year with its purchase of the Petersen Group.
News source: Financial Times