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Posts Tagged ‘Jonas Bonnier’

Terry Snow Retiring from Bonnier, Dave Freygang Named CEO

Terry Snow, CEO of Bonnier Corporation since 2007, is retiring effective January 14. He will continue at Bonnier as a member of the board. Snow became CEO of Bonnier shortly after it partnered with World Publications, a company Snow founded and had worked at for 28 years.

Dave Freygang, who most recently served as executive vice president for Bonnier’s Active Interest Division, is succeeding Snow. Freygang also worked at World Publications as CFO, and he expanded his role when it joined forces with Bonnier.

“Terry has been a great partner for us, his entrepreneurial vision and hard work helped launch Bonnier Corp. in the U.S.,” said Jonas Bonnier, CEO for Bonnier AB, parent company of Bonnier Corp., in a statement. “He will continue to be an asset to the development of the company as a member of the Board. I am also very pleased to have Dave Freygang take over as CEO. He is an excellent choice to lead Bonnier Corp. with his many years of experience and deep understanding of special interest brands and their evolving nature.”

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Official: Bonnier Wins Time Inc. Bid, Joins New York Publishing World

time_strange_internet.jpgUnofficial word came late yesterday, and Time Inc. just announced that Stockholm-based Bonnier is the winner in the prolonged sweepstakes for 18 magazines on the block since last fall.

The price, according to a source familiar with the negotiations, is said to be around $200 million, less than the $300 million Time Inc. had initially sought.

Some key soundbites:

  • Time Warner CEO Dick Parsons: “This is a smart transaction that advances both the interests of our shareholders and Time Inc.’s future success. This sale and our other recent divestitures are enabling us to concentrate our resources on developing our most strategic and promising opportunities to grow our businesses.”

  • Time Inc. CEO Ann Moore: “I am very pleased to have found the right buyer for The Parenting Group and Time4 Media, one that will be able to nurture their specialized titles. This transaction underscores Time Inc.’s commitment to focus our energy, resources and investment on our biggest and most profitable brands. I’d also like to welcome Bonnier to the New York publishing world, which continues to be an active and vibrant industry.”
  • Bonnier Magazine Group chair Jonas Bonnier: “We are extremely pleased to have reached an agreement that elevates Bonnier to the highest echelon of consumer publishers nationwide. The potential synergies between the new properties and World’s existing titles — as well as the corporate and individual growth that it will lead to — makes the future bright for all of us.”
  • The full release:

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