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Article: G + J USA AGREES TO ACQUIRE "FAST COMPANY" MAGAZINE.(Gruner and Jahr USA Publishing Co.)(Brief Article)
- Article from:
- Business Publisher
- Article date:
- December 22, 2000
CopyrightCOPYRIGHT 2000 JK Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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C +J USA (New York), a unit of Gruner + Jahr AG (Hamburg, Ger.) and Bertelsmann AG, has agreed to acquire Fast Company (Boston, MA) magazine from Mortimer Zuckerman and co-founders William Taylor and Alan Webster. No terms were given but various media reported the sale price between $450 to $490 million, including $300-350 upfront with the remainder based on future performance.
Established in 1995, the monthly magazine will increase its rate base from 538,000 to 680,000 beginning with the January 2001 issue. It had a reported total of 2184 ad pages in 2000, a 27% increase over 1999 ad pages. Advertising revenue more than doubled in 2000 to over $70 million.
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