Time Inc. has reportedly reached an agreement to sell off Golf Magazine and its related assets to Howard Milstein, chairman of Emigrant Savings Bank
The deal was first reported by Golfweek senior writer Geoff Shackelford, citing “sources briefed on the sale.”
Time Inc. has not confirmed the deal, and a spokeswoman tells Folio:, “The sales process for Golf is proceeding well and as soon as there are further developments we will share them.”
The report, which comes a few weeks after Time Inc. sold Sunset magazine to L.A.-based PE firm Regent L.P., likely comes as little surprise to Golf staffers. The company is expected to shed a number of its “non-core” brands as it prepares to be acquired by Meredith Corp. early next year, and Time Inc. had confirmed even before announcing the Meredith deal that Golf—along with Essence and Coastal Living—was among the titles being shopped around.
The sale would raise some intriguing questions about the future of staffers who increasingly straddled the line between Golf and Sports Illustrated in recent years, notably SI senior writers Michael Bamberger and Alan Shipnuck, whose 7,000-word deep August dive into President Trump’s love for golf famously quoted the President as quipping, “That White House is a real dump.”
http://www.foliomag.com/time-inc-sells-golf-magazine-report-industry-notes/