Worth magazine owner takes itself off the block

CurtCo Media, the parent company of Worth magazine and The Robb Report, has taken itself off the auction block, according to a story from the New York Times.

Reporter Andrew Ross Sorkin wrote, “The publisher, CurtCo Media, had hoped for as much as $500 million when it went on the block in the spring, hiring Goldman Sachs to run the sale process.

“CurtCo has accumulated a collection of more than a dozen high-end magazines in recent years, including The Robb Report, which it acquired in 2001, and Worth magazine, which it bought in 2003.

“’We did a reasonable market test,’ William J. Curtis, the company’s chairman, said yesterday. ‘In this market, frankly I’m a buyer, not a seller. For us this a wonderful market to be making acquisitions.’

“CurtCo is expected to participate in Time Warner’s auction of its magazines, which include publications like Yachting.”

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