As the magazine world turns


As the magazine world turns: From Folio:: The sale of Gruner + Jahr’s Fast Company and Inc. to Joe
Mansueto, the billionaire chairman, CEO and founder of Chicago-based research
firm Morningstar, Inc., is all but done, sources close to the negotiations said
today. That Fast Company will remain intact is yet another twist for the
remaining new economy business magazines.

Update: (From
NY Times
) Gruner & Jahr, a division of the German media giant
Bertelsmann, is expected to announce today that it has reached an
agreement to sell its two American business magazines, Inc. and Fast
Company, for about $35 million, a fraction of what it paid for the
publications.

Personal
observation: I much as I thought Bertelsmann got hosed on the first deal (when
they acquired Inc. and Fast Company), I think the buyer is getting a
great a great value this go-’round.