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Noteworthy bidders eye Vibe/Spin;Time, Wenner and Viacom may pursue music titles if price is right.(Brief Article)
Crain's New York Business, December, 1999 by From
The sale of Vibe/Spin Ventures by Miller Publishing Group and Freeman Spogli & Co. has attracted four probable bidders: Time Inc., Wenner Media Inc., Viacom Inc. and former Vibe/Spin President Keith Clinkscales. Emap Petersen is also said to be looking at the music titles. Final bids are due in about three weeks.
Miller Publishing hired investment bank Salomon Smith Barney to manage a sale of Vibe/Spin, which includes urban music title Vibe, alternative rock book Spin and hip-hop title Blaze. Salomon Smith Barney, industry executives say, hopes to fetch at least $200 million. But executives close to the negotiations believe a price of nearer $75 million makes more sense. Do dollars make sense? According to one person familiar with the figures, Vibe/Spin...
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