Discover Magazine Has More Than 10 Bidders So Far (And Some Of Them Are 'Vultures')

discover

Readers of nerdy science and tech journalism have something to be happy about today.

Discover magazine has generated some buyer interest since being put on the block earlier this month.

The magazine’s being eyed by an unspecified number of bidders in “the low double digits,” according to Folio, which broke the news that Discover was up for sale on May 7. And Discover’s CEO Henry Donahue says a deal for the 700,000-circulation magazine could be in place by summer’s end.

But one of Folio’s insider sources doesn’t have the most optimistic outlook:

One knowledgeable source says there may in fact be more gawkers than not. “There are so many vultures out there that will look at anything,” says the source, who wishes to remain anonymous. “If you look at the strategic pool, they’re not looking at any magazine deals. What you end up with is people on the fringe and oddball investors. At the end of the day, it’s not going to be a ‘magazine M&A is back’ kind of story.”

Read more at Folio >>

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