Word: ziff
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Dates: during 1980-1989
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When CBS last November paid $362.5 million to buy twelve Ziff-Davis magazines (combined monthly circulation: more than 4.5 million), quite a few people thought that the broadcaster had paid too handsome a sum. But CBS Chairman Thomas Wyman remained unfazed, proclaiming the agreement "a rare opportunity to acquire a very successful, well-managed business...
When William Ziff put 24 profitable periodicals on the block last month, there was no shortage of eager bidders. Ziff-Davis, a subsidiary of the Ziff Corp., was offering for sale twelve consumer magazines and twelve technical and travel publications, most of them leaders in their markets. Among those interested were the New York Times Co., Time Inc., Hearst, CBS and ABC. The massive sell-off was accomplished in just 24 hours last week, when CBS purchased the consumer group for $362.5 million, and Australian Press Lord Rupert Murdoch bought the trade publications for $350 million. Although the cash...
Many other industry observers felt, however, that the buyers were as fortunate as the seller. Since the Ziff magazines are among the most lucrative in publishing (each of the two groups had annual profits of some $32 million last year), the impact of the acquisitions will be dramatic for both purchasers...
...Ziff publications (Backpacker, Boating, Car and Driver, Cycle, Flying, Modern Bride, Popular Photography, Skiing, Skiing Trade News, Stereo Review, The Runner and Yachting) are a windfall. In one stroke, CBS added a dozen established moneymakers with a combined circulation of an estimated 4.7 million to its publishing operation. The company already owned eleven titles, including the Sunday newspaper supplement Family Weekly (circ. 13 million), Woman's Day (circ. 6.9 million), Field & Stream (circ. 2 million) and Mechanix Illustrated (circ. 1.6 million). Ziff called CBS "a great new home" for his magazines. A delighted CBS Chairman Thomas Wyman, who helped...
...space were bought in one publication at a time, the advertiser reaches a broader audience with similar interests, and the publisher is able to use the range of his titles to increase ad pages across the board. Some areas of overlap at CBS resulted from the acquisition. Ziffs Cycle and CBS's Cycle World, for instance, are the two leading motorcycle magazines; Ziffs Car and Driver appeals to many of the same readers as CBS's Road & Track; Ziffs Stereo Review and CBS's Audio are rivals, as are Popular Photography (Ziff) and American Photographer (CBS). Nevertheless...