Time Inc.'s Personal Finance Group has acquired the subscription lists of defunct Consumers Digest and Your Money magazines, an executive said Thursday. An announcement was expected later in the day.
David Kieselstein, president of the group, refused to disclose the cost.
Subscribers to the Consumers Digest publications, which folded earlier this year, will begin receiving either Money or Mutual Funds from Time Inc. later this month.
Though Consumers Digest lists 700,000 subscribers, 270,000 for Your Money, Kieselstein expects that because of overlap, Money will deliver a fourth-quarter circulation bonus of 400,000, 1750,000 for Mutual Funds.
The new subscribers will be "a tremendous fit with our property. And we expect to have a strong subscription renewal rate," he said.
While there are no plans to raise the magazines' rate bases immediately, Kieselstein said he will review circulation at the end of the year.
Money, the leading personal finance publication with 1.9 million circulation, could use a boost: Its circulation slipped 1.2 percent in the first half of 2001 due to slumping newsstand sales, according to the Audit Bureau of Circulations. Mutual Funds delivers a circulation of 827,363.