Newsweek buys 'Frommer's'

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Newsweek, New York, acquired Arthur Frommer's Budget Travel, published by Group XXVII Communications. Newsweek is acquiring the travel title through its Newsweek Budget Travel subsidiary. Financial terms were not disclosed. Under the deal, the magazine will remain independent with its own staff and operations. Arthur Frommer, co-founder and editor in chief, will oversee content and contribute articles and commentaries. Jacob Hill, co-founder and publisher, will retain his position. Also included in the deal are other Frommer-branded products such as a monthly newsletter and a weekly syndicated newspaper column.

Copyright December 1999, Crain Communications Inc.

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