TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Primedia Sells Gun Dog, Enthusiast Mags For $1.2B To Ron Burkle-Owned Co.

superstang_primedia.jpgBreaking: Primedia, the once-powerful niche magazine publisher on Fifth Avenue, has agreed to sell its 70-plus enthusiast magazines — with names like Hot Rod Bike-Works, Muscle Mustangs & Fast Fords and Practical Horseman — to Source Interlink for about $1.2 billion in an all-cash deal. It would appear to end well for Primedia, which had been reportedly seeking $1 billion for the group from a handful of bidders, including Bono‘s Elevation Partners.

Source Interlink is owned by Yucaipa Cos., a supermarket-holding company owned by billionaire businessman-cum-Jared Paul Stern lawsuit target Ron Burkle.

EARLIER:

  • Primedia’s Price Tag: $1 Billion?
  • Mediabistro Course

    Travel Writing

    Travel WritingStarting September 23, learn how to turn your travel stories into published essays and articles! Taught by a former Vanity Fair staff writer, James Sturz will teach you how to report, interview, and find sources, discover story ideas and pitch them successfully, and understand what travel editors look for in a story. Register now!