Rogers Media sells Maclean’s, Chatelaine and other magazines to Toronto Life publisher
Deal for undisclosed sum is expected to close in April
https://www.cbc.ca/news/business/rogers-media-magazines-1.5064054
“Rogers Media has struck a deal with the company that publishes Toronto Life to sell the company’s remaining magazine brands for an undisclosed sum.
In a press release Wednesday, Rogers and St. Joseph Communications say Maclean’s, the English and French versions of Chatelaine, Today’s Parent, HELLO! Canada, along with digital publications FLARE and Canadian Business, for an undisclosed sum.
“All current Rogers Media Publishing employees will be offered employment through the deal, which is expected to close in April 2019,” the release said.
Once the biggest magazine publisher in Canada by far, Rogers has been slowly reducing its print footprint since about 2016, when it phased back publication of some titles, and stopped producing others altogether while laying off staff.
The company has reportedly been in negotiations to get out of the magazine business entirely for the past year or so, and last fall they sold off the former print magazine and current digital portal MoneySense to fintech company Ratehub Inc.
St Joseph’s media calls itself Canada’s biggest privately owned print, media and communications company, and their best known product is the magazine Toronto Life. They also own FASHION Magazine, Weddingbells, MARIAGE Québec, Ottawa Magazine, Quill & Quire and other titles.
The company says it plans to develop and grow the magazine brands “that Canadians have come to know and love.”
“Our experience with brands such as Toronto Life, and the strategies applied and growth we have seen there, gives us confidence that we can help transform these brands so they may prosper in the quickly changing media landscape,” CEO Tony Gagliano said in a release.”