The History of Trans-World Skateboarding Magazine
On September 12, 2006, Time Inc. announced the sale of Time4 Media, comprising eighteen print magazines, including the TRANSWORLD group of titles. Golf and This Old House were not included in the sale; both magazines were folded into the Time Inc. stable. The rationale for the sale was that these magazines "no longer fit into Time Inc.'s publishing strategy" [1]. The eighteen Time4 properties were eventually sold on January 25, 2007 to the Bonnier Corporation—a 200-year-old Sweden-based media and entertainment company with approximately $2.9 billion in annual revenue [2]. Time Inc will officially transfer ownership on March 1, 2007 [3]. The estimated price was US$ 225 million in cash and the assumption of about US$ 42 million in unfulfilled subscription liabilities (subscriptions already paid but not yet delivered).