The deal cost Kiplinger's $3.5 million in cash plus the assumption of Individual Investor subscription obligations of about $2.6 million.
Individual Investor had 430,000 subscribers. The magazine ceased publication with its current August issue. Kiplinger's rate base, or circulation guaranteed to advertisers, is 1 million.
Kiplinger's editor in chief and publisher, Knight Kiplinger, said there is little duplication between the subscribers of his magazine and that of Individual Investor -- only about 15,000 -- and that his magazine would not charge advertisers for the extra 400,000-plus circulation. -- Jon Fine
Copyright July 2001, Crain Communications Inc.