Guccione to Buy Review

Bob Guccione, publisher and chairman of Penthouse magazine, announced today that he has agreed to buy the Saturday Review, a magazine dedicated to literature and public affairs for most of its 63-year history.

No price was divulged, but a year ago the asking price was reported as $3.5 million. The Review’s owner since 1984 has been Manhattan Media Corp. In the last five years, the magazine has had three owners and suspended publication three times. In recent years, as circulation fell, it sought to attract new readers with cover photos of attractive women and features on movie stars.