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BONNIER

Bonnier ‘leading contender’ to buy US magazines

Swedish media giant Bonnier is reported to be the leading contender to buy 18 magazines being sold by American publisher Time Inc.

Published: 23 January 2007 12:36 CET

Time initially set a target of $240 million for the sale of a number of lifestyle magazines including Field & Stream, Outdoor Life and TransWorld Snowboarding, the New York Post reported.

The paper said that Bonnier is a likely frontrunner to seal the purchase, with Time Inc CEO Ann Moore saying she aims to sell to a strategic partner.

It is understood that Bonnier Publications, the family-owned company’s magazine arm, is handling negotations. A further six companies are in the running to buy the magazines.

Bids for the publications closed on Monday.

Erik Månsson, information director at Bonnier in Stockholm, confirmed that the company was interested in the magazines, but would not confirm directly that the company had made a bid.

“We have said that we have an interest – we are always looking at different opportunities,” he told The Local.

Månsson was unable to say whether the company was interested in all of the assets or just some of those being sold.

US media industry magazine Folio quotes sources saying that Time is unlikely to get more than a total of $200 million for the sale. Månsson said he was unable to comment on the value of the sale.

Bonnier Publications’ market is currently active principally on the Nordic market, where it publishes around 15 titles.

EUROPEAN UNION

Swedish publisher behind EU press subsidy complaint

Publishing giant Bonnier AB was responsible for delivering a secret complaint to the EU Commission about state support to the press in Sweden.

Published: 6 May 2008 16:51 CEST

The revelation was made clear by their reply to the government’s call for comments on a new legislative proposal on the matter.

The analysis of operational support included in the comment is the same as that done in the complaint to the EU Commission.

The complaint itself is also includes as a supplement to the comment, writes the magazine Medievärlden.

Up until now it had been a secret as to which company was behind the complaint delivered to officials in Brussels.

The complaint, as well as the EU Commission’s own objections to the new design of state press subsidies, eventually moved Minister of Culture Lena Adelsohn Liljeroth to put forward a new proposal.

In its response to the new proposal, Bonnier AB has chosen to show its cards.

The criticism of the old proposal remains in addition to an analysis of the new one.

The company claims the new press support formulation disrupts free competition within the industry, favours certain companies, and conflicts with EU rules on state supports. As a result, the proposal is unjust, says Bonnier AB, which is seeking a comprehensive review of state subsidies for the press.