TORONTO – Rogers Media is officially out of the magazine publishing business after announcing Wednesday that it is selling all seven of its consumer print and digital magazine brands to St. Joseph Communications (SJC).
The deal includes Maclean’s, Chatelaine (English and French), Today’s Parent, Hello! Canada, as well as digital publications Flare and Canadian Business, plus its custom content business. Financial terms of the acquisition, which is scheduled to close next month, were not publicly disclosed.
All current Rogers Media Publishing employees will be offered employment through the deal.
“It was a difficult decision, but one we believe is right as we accelerate our strategic vision and reposition our media business for the future,” said Rogers Media president Rick Brace, in the news release. “We are extremely proud of these iconic magazine brands and all the employees who have delivered high-quality content for decades and helped shape Canadian culture and conversation.”
Headquartered in Concord, just north of Toronto, SJC is Canada's largest privately owned print, media and communications company. Its publications include Toronto Life, Fashion Magazine, Weddingbells, Mariage Québec, Ottawa Magazine, Quill & Quire and the Where group of magazines in Vancouver, Calgary, Ottawa and Toronto.
“Bringing together two talented teams and many of Canada's most celebrated magazine brands is an important opportunity for SJC, the media industry and our country,” added executive chairman & CEO Tony Gagliano. “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."
The two companies pledged to work together to ensure a smooth change of ownership, including some transition services. Current subscribers will continue to receive their print and digital subscriptions.
