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Article: PURCHASE OF FAST COMPANY EXPECTED BERTELSMANN UNIT REPORTEDLY TO BUY MAGAZINE FOR $340M
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- December 19, 2000
- Author:
CopyrightCopyright 2000 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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The very first line on Fast Company's Web page makes a promise:
"Helping you Succeed in the New Economy." Gruner + Jahr USA
Publishing obviously hopes the boast proves true for its magazine
group.
The American magazine unit of media giant Bertelsmann AG is
expected to announce today that it will acquire Fast Company magazine
from Mortimer B. Zuckerman, the real estate developer and publisher.
Neither Fast Company nor Gruner would comment on the purchase price,
but The Wall Street Journal reported it to be $340 million, plus a
contingency payment of up to $150 million if Fast Company hits
certain performance targets.
Fast Company was launched in November 1995 by Alan Webber and
William ...