Swedish media group Bonnier AB acquires 18 magazines from Time Inc

Nordic Business Report, Jan 26, 2007

NORDIC BUSINESS REPORT-26 January 2007-Swedish media group Bonnier AB acquires 18 magazines from Time Inc(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish media group Bonnier AB said on Friday (26 January) that it has agreed to acquire the magazine groups The Parenting Group and Time4 Media from Time Inc, part of the US media company Time Warner (NYSE: TWX).

The transaction covers 18 parenting, sports, leisure, fishing, boating and science magazines with a combined turnover of approximately SEK1.9bn.

Bonnier plans to merge the acquired operations with US publisher World Publications, in which Bonnier holds a minority share. The merger will secure Bonnier a majority holding in the company. The combined company will have some 1,000 employees and an annual turnover of approximately SEK2.5bn.

Bonnier, headquartered in Stockholm in Sweden, is a 200-year-old family-owned media group comprising some 150 companies with operations in over 20 countries.

One British pound (GBP) is worth approximately 13.38 Swedish kronor (SEK).

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))