Pet Publisher BowTie Sells Magazines
BowTie Inc., the publisher of Dog Fancy, Cat Fancy and other specialty magazines and books, has sold all of its titles to a pair of investors who plan to expand the business and broaden its online offerings.
BowTie, which has been struggling with broad declines in readership and advertising, agreed Friday to sell its assets to I-5 Publishing LLC, a new joint venture formed by David Fry and Mark Harris. The price of the acquisition was not disclosed, but Fry said it was "an eight-figure commitment."
Fry confirmed Friday that layoffs are in progress this week