North Equity has announced the acquisition of several iconic publications from Bonnier Corporation.
Field & Stream and Outdoor Life, two of the most famous outdoors publications in the U.S., will see a change in ownership for the first time in over a decade, as a private equity firm recently purchased a wide array of popular brands from Bonnier Corporation.
Along with the two century-old outdoors publications, North Equity also acquired Popular Science, Popular Photography, Saveur, Better You and Interesting Things, all of which align with the firm's vision for its digital media future.
"Since inception, the North team has proved our ability to acquire, reimagine and profitably grow media brands," said Andrew Perlman, North Equity Managing Partner. "We have accomplished this by working with the teams at each brand to deliver high-quality, meaningful content and build innovative sustainable business models. We're excited to have the opportunity to add such venerable brands to our portfolio and look forward to working with the amazing people behind them."
According to a report from the New York Post, not only does North Equity plan to maintain an emphasis on print, but it also plans to retain the editors-in-chief for the three largest brands, as Colin Kearns at Field & Stream, Alex Robinson at Outdoor Life and Corinne Lozzio of Popular Science are all expected to join the new company.
"Bonnier has been the proud owner of Field & Stream, Outdoor Life, Popular Science and Saveur for more than a decade," said David Ritchie, CEO at Bonnier Corp. "These brands exhibit a tremendous amount of authority in their genres and have earned the trust of their readers, and we're excited that North Equity recognizes the value these brands have in the marketplace. We believe North Equity is best-positioned to continue to invest in and grow these iconic legacy brands."
The acquired brands collectively reach 10 million monthly online unique visitors, 15 million social media followers, and 1.7 million print subscribers.