Cycle World Magazine has a new owner. The motorcycle magazine was sold by Hearst to the Bonnier Corporation on Friday.
"With its very loyal audience of motorcycle enthusiasts, Cycle World will be a great addition to Bonnier's portfolio of special-interest magazines," David Carey, president of Hearst Magazines, said in a statement. "We are pleased to be working with Terry and his team on this transaction."
The New York Times reports that the Cycle World staff will stay on board as Bonnier takes over. Bonnier, which deals in niche markets with titles like Popular Science, Field & Stream and Parenting, is exciting to tackle the motorcycle market.
"Our company excels at serving passionate special-interest audiences, so Cycle World is a solid strategic fit," said Terry Snow, the chief executive of Bonnier.
The financial details of the deal were not disclosed.
