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Revolving Door Newsletter: 01.26.07
Time Changes, Fortune Smiles, Money TalksJanuary 26, 2007
The other shoe dropped at Time Inc. this week, as the outdoor sports and parenting titles were finally auctioned off to the Swedish Bonnier Group, which also owns half and essentially controls World Publications (the owner of Saveur, Spa, and Islands, among others). Being passed to Bonnier was probably the best possible outcome for the 550 employees attached to the titles -- they won't even have to change offices (for now) as part of the deal. Considering the alternative was a pick-your-poison scenario of private equity groups (which tend to follow the standard playbook of stripping assets to ...