NEW YORK (AdAge.com) -- Hachette Filipacchi Media U.S. is looking to sell a group of its enthusiast magazines including Popular Photography, American Photo, Boating, Cycle World, Flying and Sound & Vision.
Hachette has been feverishly scrubbing its budget under CEO Alain Lemarchand since he arrived last fall, even dropping out of the main magazine industry association, but the sale effort is the most dramatic move yet.
The media investment bank DeSilva & Phillips has been shopping the titles for several weeks, industry insiders said.
Word of the sale effort appeared today in the Delaney Report, a trade newsletter. A Hachette spokeswoman and a DeSilva executive declined to comment, but others confirmed the offering.
It was not clear whether the titles were available individually or only as a group. Hachette also publishes Elle, Car and Driver, Road & Track and Woman's Day magazines.
The recession has made 2009 a terror for most media owners, but it hasn't completely stopped asset sales. Management at Garden & Gun magazine recently bought a majority interest in the title from its founding owner, Evening Post Publishing, which had decided to stop funding the title. And last week Sandow Media said it bought Western Interiors & Design magazine.
Ad pages from January through the April issues fell 48.7% at Boating, 18% at Cycle World, 19.3% at Flying, 15.3% at Popular Photography and 27.8% at Sound & Vision, according to Media Industry Newsletter.