April 24, 1996 |
Magazine publisher Petersen Publishing Co. said Tuesday that it is considering putting itself up for sale, a move that would probably draw bids from some of the biggest names in publishing. Petersen, known for such varied titles as Motor Trend, 'Teen, Sport and Skin Diver, said it hired investment bankers Goldman, Sachs & Co. as a financial advisor to help it "explore strategic alternatives."
August 11, 1998 |
A rapidly expanding Los Angeles magazine publisher said Monday it acquired Surfer magazine, the San Juan Capistrano-based monthly that is the oldest publication devoted to the sport. Petersen Publishing Co. said it bought Surfer Publications, which publishes Surfer and several other magazines devoted to so-called extreme sports. Terms were not disclosed. The transaction is the latest in a buying spree at Petersen, which is moving to bolster its Raw Sport Group.
August 16, 1996 |
Petersen Publishing Sold: The Los Angeles-based company, whose magazines include Motor Trend and Guns & Ammo, has been sold by Robert E. Petersen, who founded the company in 1947 and published his first title, Hot Rod, in 1948. The buyers are led by Willis Stein & Partners, a Chicago investment fund with large media holdings. Petersen said will remain a 10% owner of the company and keep his office and a board seat. Petersen's annual revenue is about $275 million.
October 3, 1997 |
Shares of Petersen Cos. on Thursday rose nearly 16% in their first day of trading on expectations that revenue will rise at the Los Angeles-based publisher of Guns & Ammo, Hot Rod, Teen and other magazines. Petersen shares rose $2.75 to close at $20.25 in New York Stock Exchange trading of 4.4 million shares after a $122.5-million initial public offering. Earlier, shares touched $20.63. Petersen, founded in 1948, publishes 78 special-interest magazines.
September 23, 1997 |
Petersen Cos., the publisher of Hod Rod, Teen, Motor Trend and Guns & Ammo magazines, reduced the amount of its initial public offering to $100 million. The Los Angeles-based company said in an amended registration filed with the Securities and Exchange Commission last week that it plans to sell 6.25 million shares at $15 to $17 each. If the shares sell for $16 each, Petersen expects to raise $92 million after expenses.
November 6, 1998 |
Extreme sports such as street luge and in-line skating moved closer to the middle of the road Thursday as NBC and magazine publisher Petersen Cos. announced plans for a series of televised sports festivals that will challenge ESPN's X Games, an increasingly popular television showcase for unconventional sports. San Diego, Los Angeles, Atlanta and Miami reportedly are among U.S. cities being considered as hosts for the Gravity Games, to debut next summer.