Examining the potential bidders for Fortune
Media industry analyst Ken Doctor examines the potential buyers for Fortune magazine, which is being acquired by Meredith but does not fit into its portfolio.
Doctor writes, “It’s tough to see an easy fit. Bloomberg already bought and incorporated one of the top three legacy business magazines, Business Week. Nikkei and its Financial Times have their global strategy fairly well set, and it’s about digital reader revenue, not a strong suit of Fortune. Axel Springer made its big business bet on start-up Business Insider, and despite the major hiccups in the digital ad field, is unlikely to change course; why take on the hassle of digital transition of a brand?
“Could Oath with all that business content through Yahoo and AOL opt to buy a brand to front it? Its brandlessness seems increasingly odd these days. CNN’s Money vertical is a key one, but Turner ended its Time Inc. partnership, which included the major magazines, three years ago. Furthermore, Time Warner and Turner are rather wrapped up in the AT&T acquisition/DOJ suit.
“How about Dow Jones? Its print magazine, Smart Money, shuttered five years ago. Unless the next Murdoch strategy — after selling most of 21st Century Fox to Disney — is to double down on business news, as well as Fox’s news and sports franchises, this option seems unlikely.”
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