Miller Publishing sold a controlling stake in its Sports Group--Tennis, Cruising World
and Sailing World
--to the Destination Group, a venture capital and marketing firm. An industry executive pegged the price in the $30 million to $40 million range. The Destination Group is an offshoot of Publicitas owner PubliGroupe. Miller CEO Bob Miller could not be reached for comment, and other executives did not return phone calls.
Copyright July 2000, Crain Communications Inc.