Happy 30th, Discover! Now, find a new owner

DISCOVER Magazine is up for sale – again – just in time for its 30th anniversary by private equity firms WallerSutton and Sandler Capital Management, backers of owner Discover Media.

Brokers for the deal have said this is not a fire sale; the owners will not sell unless a suitable buyer comes forth.  Despite a circulation of 700,000, the magazine has seen a steady decline in advertising revenue.  According to the Media Industry Newsletter, ad page revenue fell by 19% compared to last year and was down 13% overall in 2009.

But Discover Media CEO Henry Donahue told foliomag.com that the company is cash flow positive.  “The time is right to go out and look for new investment.”

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