• Folio:, Monday, May 10, 2010 10:41 PM

Discover Magazine is for sale; the first round of bids are due Monday, May 17. Discover Media CEO Henry Donahue says company is cash-flow positive, and a "range of options" are being considered-from an investment to expand the company's digital platform to an outright sale. The prospect list is fairly extensive and he says about two-dozen companies have expressed interest in seeing the offering memorandum.

Discover magazine was purchased in 2005 from Disney Publishing by Bob Guccione Jr. for an estimated $15 million. Guccione formed Discover Media LLC specifically for the deal, and had intended to make more acquisitions. Currently, the company consists of the magazine and an accompanying Web site. Discover publishes monthly and has a 700,000 circulation.

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