The acquisition is a surprise, but Bonnier's interest in buying is not. Bonnier was born last year when Sweden's Bonnier Group combined 18 magazines just purchased from Time Inc. with its 49% stake in Florida's World Publications. Bonnier Group CEO Jonas Bonnier later told Ad Age that he would seek to grow the U.S. division through acquisitions.
Today Bonnier wants to expand its ability to reach parents and mothers at different points in their and their children's development, said Terry Snow, CEO of Bonnier Corp. "We're really trying to build out this parenting, mother and family category," he said. "This is just another segment."
May bring advertisers
Bonnier hopes Working Mother can help it sell ads as well. "There are a lot of common advertisers between Working Mother and Parenting right now, so there is an opportunity to package them and hopefully find more reach for the advertisers," Mr. Snow said. "Then there's also some unique advertisers that Working Mother brings. They do get a lot of corporate advertisers."
Ad pages at Parenting totaled 713.8 from January through September, down 4.1% from the period a year prior, according to the Media Industry Newsletter. Working Mother ran 345.1 ad pages from January through its August/September issue, up 14.5% from the year-ago period. Working Mother Media also includes conferences and events.
Parenting's paid and verified circulation averaged 2 million over the first half of this year, according to its filing with the Audit Bureau of Circulations, up 6% over the first half of 2007. Working Mother, which publishes eight times a year, reported flat paid and verified circulation of 830,653.
Terms of the acquisition were not disclosed. Mr. Snow said Working Mother's annual revenue totaled $20 million to $25 million, while Bonnier takes in about $350 million.