Hearst, Condé Nast Sell Comag Marketing Group
Deal comes at time of weak newsstand sales
Comag Marketing Group, the national magazine distributor jointly owned by Hearst Magazines and Condé Nast, has been acquired by the Vancouver-based Jim Pattison Group, the companies announced today. JPG also owns The News Group—the biggest periodical wholesaler in North America—in addition to other properties ranging from food to automotive.
Coming at a time when magazine newsstand sales have been experiencing prolonged weakness, the acquisition is being positioned as a way to bolster the distribution model. “This transaction will strengthen the newsstand channel,” JPG deputy chairman and marketing director Michael Korenberg said in a statement.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in