Parenting and Babytalk Magazines Shut Down in Sale to Meredith
Posted in: Uncategorized
Bonnier Corp. has sold Parenting, Baby Talk and Conceive magazines to Meredith Corp., which will close them and begin sending their subscribers its own parenting and baby magazines instead, the companies said on Tuesday. At least 60 people in Bonnier’s Parenting Group are being laid off as a result of the deal.
Bonnier, which sold Ski and Skiing magazines to Active Interest Media two weeks ago, said the new sale is not part of a dismantling of the company, but instead an effort to grow revenues and achieve sustained profitability.
“Our parent company, Bonnier AB in Sweden, reminds us that it plans for generations, not years — we adhere to that theory,” Bonnier Corporation CEO Dave Freygang said in a statement. “This choice was a difficult but necessary one to ensure the company is well positioned for the future.”
Post a Comment