According to AdAge.com, Boating magazine is for sale. The website reported that the magazine is being sold with other enthusiast titles owned by Hachette Filipacchi Media US, a subsidiary of the French company.
Boating has a circulation of 175,000, making it the world's largest subscriber-based boating magazine. Like other US boating magazines, Boating has seen its ad revenues decline steadily over the last two quarters. Ad pages from January through the April issues fell 48.7 per cent compared to the previous year.
According to the AdAge story, Hachette has been cutting expenses at the media conglomerate since the arrival of CEO Alain Lemarchand last fall. The media investment bank DeSilva & Phillips has been hired to find new owners for the enthusiast stable.
Hachette also publishes Popular Photography, Flying, Elle, Car and Driver, Road & Track and Woman's Day magazines. The story said it was unclear whether the magazines were being sold as a group or individually. A Hachette spokeswoman told IBI that the company had "no comment" on the sale.