Magazine article Folio: the Magazine for Magazine Management

Primedia Acquires Two Cowles Units

Magazine article Folio: the Magazine for Magazine Management

Primedia Acquires Two Cowles Units

Article excerpt

Primedia Inc., the sprawling media company best known for such high-profile consumer titles as New York, Seventeen and Modern Bride, has broadened its expansive magazine portfolio with the $200 million acquisition of Cowles Enthusiast Media and Folio: publisher Cowles Business Media from McClatchy Newspapers Inc. After debt and other liabilities assumed by Primedia, the deal is worth roughly $170 million.

McClatchy, the Sacramento, California-based publisher of a number of daily papers including the Sacramento Bee, made clear in the November 14, 1997, announcement of its acquisition of Cowles Media Co.--for an estimated $1.4 billion--that its main interest was CMC's Minneapolis Star Tribune and that it would unload the company's non-newspaper operations as soon as possible. In addition to the Star Tribune, Cowles comprises the enthusiast and business magazine groups, along with a smaller custom publishing division.

In Cowles Enthusiast Magazines, New York City-based Primedia (formerly K-III Communications Corp.) picks up 29 titles across four editorial groups--healthy lifestyles, collectibles, history and recreation--including Vegetarian Times, Doll Reader, America's Civil War and Fly Fisherman. With 345 employees, Stamford, Connecticut-based CEM will become a freestanding unit of Primedia's Specialty Maganize Group.

Cowles Business Media, a 265-employee company with offices in Stamford, Connecticut, and New York City, will become a stand-alone unit of Primedia's Intertec Publishing division, which is based in Overland Park, Kansas. In addition to Folio:, Cowles Business Media publishes Catalog Age, Direct, Cable World and American Demographics, among other media b-to-b titles. Trade shows include three Folio:-sponsored events; the annual Catalog Conference & Exhibition: Direct Marketing to Business; Business-to-Business Database Marketing; and Promo Expo, which will give Primedia 29 trade shows, nearly doubling its former stable. …

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