NEW YORK, September 30, 2011 — Hearst Corporation, one of the nation’s
largest diversified media companies, today announced the sale of Cycle
World to Bonnier Corporation, one of the largest consumer-publishing
groups in the U.S. serving passionate, highly engaged audiences. The
announcement was made jointly by Terry Snow, CEO of Bonnier
Corporation, and David Carey, president of Hearst Magazines. Financial
terms were not disclosed.
Cycle World—the No. 1 media brand in the motorcycle industry—joins
Bonnier’s impressive collection of top brands in the U.S. that include
Popular Science, Parenting, Field & Stream and a number of special-
interest active lifestyle titles.
“With its very loyal audience of motorcycle enthusiasts, Cycle World
will be a great addition to Bonnier’s portfolio of special-interest
magazines,” Carey said. “We are pleased to be working with Terry and
his team on this transaction.”
“Our company excels at serving passionate special-interest audiences,
so Cycle World is a solid strategic fit,” Snow said. “The Cycle World
brand holds a position of leadership and respect in the motorcycle
industry. That means a lot for us as we look to enhance the connection
that marketing partners can have with this audience.”
Bonnier, which formed in 2007, has grown to more than 50 brands,
mainly through acquisitions. The company has also become an industry
pioneer for its approach to emerging digital platforms. Bonnier was
one of the first to launch a magazine title on the iPad with Popular
Science in April 2010, and has followed that up with aggressive R&D
innovations.
Founded in 1962 and based in Newport Beach, Calif., Cycle World
publishes a monthly magazine with a circulation of 235,000. In
addition to the print publication, the brand has a robust website,
events, licensed content, research initiatives and mobile apps. It was
the first motorcycle brand to publish a mobile app with the launch of
the Cycle World iPhone app in 2009.
Cycle World will be moved under Vice President and Group Publisher
Eric Zinczenko’s Outdoor Group. “Adding another leading men’s vertica=
l
to our portfolio of enthusiast brands presents larger opportunities
for our strategic partners as we share many of the same advertisers,”
Zinczenko said. “This acquisition reinforces Bonnier’s pursuit of
aggregating the largest men’s audience in media, and most important,
the unwavering commitment to producing the highest quality content
possible.”
Cycle World’s current staff will remain. Mark Hoyer leads the
editorial team as vice president of brand content and editor in chief
of Cycle World. Hoyer has worked for the brand since 1999. Andrew
Leisner leads the business side as vice president of integrated sales
& marketing. A former professional motorcycle racer, Leisner has
worked his entire career in motorcycling with a wide range of
responsibilities, including publishing, advertising, sponsorship sales
and promotions.
The Jordan, Edmiston Group, Inc. (www.jegi.com), the New York-based
independent investment bank for the media industry, represented Hearst
Corporation in this transaction and acted as its exclusive financial
advisor.
About Bonnier Corp.
Bonnier Corp. (www.bonniercorp.com) is one of the largest consumer-
publishing groups in the U.S. and is the leading media company serving
passionate, highly engaged audiences, through magazines, events,
digital media and leading-edge products. Bonnier Corp. is the U.S.
division of the Bonnier Group (www.bonnier.com), an international
media group active in television, newspapers, magazines, movies, books
and digital media.
XML Sitemap