At least six companies have survived the first-round cut and are said to be in the running to acquire Petersen Publishing Co., owner of Motor Trend, 'Teen
and other titles. The active bidders, believed ready to ante up over $310 million to stay in the race, are said to include: K-III Communications; Jerry Ritterman, head of Ritterman Capital Ventures; Weider Publications; Robert Miller's Goldrush Media; a Lehman Bros. group led by former Hearst Magazines President Claeys Bahrenburg; and publishing mogul Mort Zuckerman.
Northwest Ford Dealers Advertising Association was preparing to ask EvansGroup's office in Seattle to resign its $15 million account when the shop resigned June 21, two dealers said. EvansGroup said Ford Motor Co. was pressuring dealer groups to consolidate ad accounts at J. Walter Thompson USA, Detroit; Ford and the Northwest group denied that. The group said it will invite JWT, with 46 of the 63 groups, and W.B. Doner & Co., Southfield, Mich., with seven, to pitch.