Mondadori agrees 8.3 mln euro magazine sale
June 30th, 2008 | by admin |MILAN, June 30 (Reuters) - Italian publisher Mondadori(MOED.MI: Quote, Profile, Research, Stock Buzz) has finalised a deal to sell six sports magazines toFrench publisher Motor Presse France for 8.3 million euros.
Mondadori said in a statement on Monday the magazinesincluded Le Cycle, l’Officiel du Cycle de la Moto et du Quad,Bateaux, Golf Europeen, Golf Magazine and Guides Bel-air.
The magazines, published by Mondadori’s French unit, hadcombined revenues of about 11 million euros in 2007.
The sale is part of a rationalisation by the unit, whichwants to focus on upscale and mass-market segments that offer agreater potential for advertising.
Motor Presse France is part of the Motor Presse group, ownedby Gruner + Jahr, publishing arm of German media groupBertelsmann [BERT.UL]. (Editing by Will Waterman)
