Bonnier Still Buying Magazines, Adds Scuba Diving

In a sign that media deal making hasn't been felled by recession, Bonnier Corp. said today it's buying Scuba Diving magazine from F&W Media.

The deal isn't a blockbuster, but any investment by a media company has to be encouraging as layoffs and budget cuts dominate the scene. It's actually the second recent deal for Bonnier, which bought Working Mother in September. Terms weren't disclosed, but Bonnier CEO Terry Snow said the horrible economy and chilly credit markets helped him negotiate a favorable price.

The deal is also a small show of strength for niche-magazine publishing, which Mr. Snow said fared better than the general market in 2008. "2009 is yet to be determined," he said. "But in 2008, for the most part, the endemic advertisers continued to spend."...[AdvertisingAge]