Primedia Sale Could Top $1 Billion

by The Editors on February 10, 2007

The New York Post is reporting that Primedia’s sell off of their Enthusiast Group (ASG’s parent) could be the largest magazine sell-off in the history of media with bidding that will “easily crack the $1 billion barrier.”

In sheer size, this Primedia auction is expected to dwarf the recent Time Inc. selloff of 18 magazines, which fetched a price estimated to be around $225 million. That deal – which was won by Swedish publishing giant Bonnier – is expected be finalized in early March and went for about 11 times its cash flow.

[Link: The New York Post]

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