It's Official, Bonnier New Owner of 18 Time Inc. Titles

NEW YORK (AdAge.com) -- The Bonnier Group's victory in the auction of 18 magazines by Time Inc. was ratified today, ending a suspenseful and dragged-out process that began Related Stories: Read the Internal Memo From Time4 Media President Tom BeusseTO: Time4 Media StaffFROM: Tom Beusse We Have a Winner! The wait is over and the news is very, very good indeed: The Bonnier Magazine Group has reached an agreement with Time Inc. to acquire all Time4 Media and Parenting Group brands. Time4 management, myself included, are extremely pleased at this outcome and excited about the opportunities for growth that it represents for our staff, our brands and our partners. Bonnier is a family-owned media company that has built their business on a foundation of journalistic excellence that goes back to 1804. Based in Stockholm, Sweden, with businesses in 20 countries, they are very ambitious regarding U.S. opportunities -- this is their third acquisition here this year including a stake in World Publishing with a portfolio of 22 vertical titles in subjects spanning luxury lifestyle and travel, boating and water sports, angling, yachting and sailing. There is great synergy between our portfolio and World's as well as Bonnier's multi-media strategy and entrepreneurial philosophy. With almost 10,000 employees in five main areas of media: Magazines (including several technology and parenting titles), Entertainment (including music, theaters and gaming), Newspapers, Business Press and Books, Bonnier has adopted a decentralized approach in managing their 150 businesses because they believe in the potential and ability of individuals, and they are notorious for being very good to employees. They also understand vertical media brands and the value of their connection with passionate enthusiast audiences. Bonnier's acquisition of our businesses is excellent recognition of that value, as well as the quality of our brands and talent of our staff. Together we have the unique opportunity to build a new multi-platform media company on an incredible foundation. You are the cornerstone of that rock solid foundation. Thank you for your support and your patience these many months, and thank you in advance for your continued faith and patience as we work to resolve a wide range of details. We will be working with Bonnier Executive Vice President, Jonas Bonnier, and Terry Snow, President and CEO of World, as well as with Time Inc. for the smoothest possible transition. In the meantime, your best assumption is for business as usual on all fronts, with good things to come. -- Tom

It's Official, Bonnier New Owner of 18 Time Inc. Titles

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