Official: Bonnier Wins Time Inc. Bid, Joins New York Publishing World
Unofficial word came late yesterday, and Time Inc. just announced that Stockholm-based Bonnier is the winner in the prolonged sweepstakes for 18 magazines on the block since last fall.
The price, according to a source familiar with the negotiations, is said to be around $200 million, less than the $300 million Time Inc. had initially sought.
Some key soundbites:
Time Warner CEO Dick Parsons: “This is a smart transaction that advances both the interests of our shareholders and Time Inc.’s
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