Bonnier Scoops Up Motorcycle Mags in Deal With Source InterLink
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Bonnier Corp. and Source Interlink Media inked three separate deals on Monday that send nine motorcycle titles to Bonnier and all but one TransWorld title, as well as Sound + Vision, to Source InterLink. Both companies pursued the deals in order to deepen their presence in the verticals the magazines cover, according to a spokesperson for Bonnier.
Neither company released financial terms of the deals, but in an internal memo to staff, Bonnier CEO Dave Freygang assured employees that after weeks of deal-making the company is ready to move forward with its current lineup of titles.
“The transactions today are the last in a series of moves we have implemented to transform our company to one that will achieve revenue growth and sustained profitability,” Mr. Freygang wrote in the memo. “Please be certain of this: We have our operating groups and brands in place, and we have the right people to allow us to achieve our goals.”
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