The Iowa-based Meredith Corporation, through its purchase of Time Inc, has returned to the boating publishing market after an absence of 28 years.
Meredith previously published the world’s largest yachting title, Sail magazine, which at that time had a monthly circulation in excess of 170,000 copies but was divested as a “non-core” title in 1990.
Sail was subsequently acquired by the Cahners division of Reed International, which already owned Power & Motoryacht magazine.
Times have changed at Meredith, which has diversified from its traditional focus on US women and home interest titles to owning TV stations and now, with its latest acquisition, to an involvement in the international publishing scene across numerous sectors. The newly enlarged Meredith Corporation will have annual revenues in excess of US$5bn.
The US$2.8bn deal to purchase Time Inc, which completed on Tuesday, means that the four British marine magazine titles Yachting World, Yachting Monthly, Practical Boat Owner and Motor Boat and Yachting will now come under Meredith’s imprint as will another 45 of Time Inc’s British-based publications and websites covering a wide variety of subject matter.