Health and wellness media company Rodale Inc. has set an Aug. 3 deadline for interested buyers to submit bids to acquire the publisher, according to a report from New York Post.
Rodale publishes Men’s Health, Women’s Health, Runner’s World, Prevention and Bicycling.
In June, Rodale announced it was considering “strategic alternatives” for the company, including a potential sale of the whole company, specific properties, groups of properties or individual businesses.
Allen & Co. was hired to to serve as a financial advisor during the strategic review process.
According to the New York Post, Hearst, Bonnier, Meredith and Ziff-Davis are believed to have expressed interest in submitting bids.
David Pecker, CEO of American Media Inc., previously told The New York Times he intends to pursue Men’s Health magazine “very aggressively,” after acquiring Men’s Journal from Wenner Media last month.
Family-run Rodale Inc. has had to enact cost-cutting measures amid falling revenue, including laying off staff, folding Running Times, raising the newsstand price of Prevention to transition it to ad-free and closing its custom content studio Grow.
The company is led by CEO Maria Rodale, the third generation to head the 87-year-old company founded by her grandfather. The company also owns a book-publishing business.