• Financial Times, Wednesday, June 10, 2009 9:30 AM

Swedish-owned Bonnier Group has become one of the 10 largest magazine owners in America with three acquisitions, at a time when most prominent media groups are closing or selling their magazines.The contrarian deals, including the acquisition of five titles from Hachette Filipacchi Media last week, give Bonnier $350 million in annual magazine revenue in the U.S., putting it in the top tier only three years after entering the market.

Terry Snow, CEO of the U.S. magazine arm, says the company sees opportunity in magazines' fall from favor and is making a long-term bet that few rivals could make. "The public [media] companies are pressured by quarterly earnings, and the venture-backed companies are fighting the banks," he says. Once credit markets improve, Bonnier expects some large magazine owners to sell, and promises to be one of the few strategic buyers.

In 2007 Bonnier bought Time Inc.'s Parenting group and Time4Media enthusiast titles. Its latest acquisition adds American Photo, Boating and Flying among others. Favoring special interest titles, Bonnier plans to explore digital, television, events, e-commerce and other brand-extension opportunities for its newly acquired publications.

Read the whole story at Financial Times »