Petersen Acquires Florida Publishing Group
Beefing up its stock of titles, Petersen Cos. said it acquired Dobbs Publishing Group, the publisher of eight niche automotive magazines. Los Angeles-based Petersen said the transaction, terms of which were not disclosed, will help expand its list of publications and establish a foothold in Florida. Lakeland, Fla.-based Dobbs publishes Super Ford, Mustang Monthly, Muscle Car Review, Mopar Muscle, Corvette Fever, Chevy Truck and Cruisin’ USA. Petersen--which has more than 80 outdoor, automotive, sport and specialty magazines--bought Lemoyne, Pa.-based Northwoods Publications and its three outdoor magazines in November. Petersen publishes Motor Trend, Hot Rod and other publications, reaching an estimated 69 million readers. Petersen shares dropped 13 cents to close at $24.63 on the NYSE.