Bonnier, Source Interlink Exchange Titles

Bonnier, Source Interlink Exchange Titles: Change continues at Bonnier as the company announced its third major holdings change in the last month, agreeing to acquire nine motorcycle titles from Source Interlink Media. Concurrently, Bonnier has sold the majority of its TransWorld enthusiast properties and sound-system and theater review title, Sound + Vision, to Source Interlink. While related, each deal was structured separately and was not part of an asset swap, according to a Bonnier spokesperson. Financial terms of the agreements were not disclosed. The activity comes after Bonnier had recently sold Parenting and Babytalk to Meredith, and five snowsports properties to Active Interest Media. "The transactions today are the last in a series of moves we have implemented to transform our company to one that will achieve revenue growth and sustained profitability," says Dave Freyang, CEO of Bonnier, in an internal memo. "I realize this spring has brought significant change to our company. I also recognize that change creates uncertainty. Please be certain of this: We have our operating groups and brands in place, and we have the right people to allow us to achieve our goals." A Bonnier spokesperson confirms that there will be no layoffs in the immediate future stemming from the deal. Bonnier will pair the acquired properties with Cycle World, which it acquired from Hearst in 2011, to form the Bonnier Motorcycle Group-the largest media group in the segment, according to the company. Source Interlink staff will join Bonnier's Cycle World personnel at its Carlsbad, Calif. offices.