Bonnier Doesn't Want to Buy Men's Fitness Anymore
Bonnier Corp. is no longer in talks to buy Men's Fitness magazine from its parent company American Media Inc., a Bonnier spokeswoman confirmed.
The talks, which had been going on for at least six weeks, were scuttled after the two sides couldn't reach agreement on the price, according to two people familiar with the matter. In March, a person with knowledge of the negotiations told Ad Age that AMI wanted "just shy of $30 million" for Men's Fitness.
One person also said Bonnier wants to focus on more digitally focused acquisition targets.
Bonnier publishes dozens of special-interest magazine brands including Saveur, Popular Science and Field & Stream.
The New York Post first reported news of the talks' collapse Tuesday night.