Surfer Magazine Group Acquired by Petersen Publishing

A rapidly expanding Los Angeles magazine publisher said Monday it acquired Surfer magazine, the San Juan Capistrano-based monthly that is the oldest publication devoted to the sport.

Petersen Publishing Co. said it bought Surfer Publications, which publishes Surfer and several other magazines devoted to so-called extreme sports. Terms were not disclosed.

The transaction is the latest in a buying spree at Petersen, which is moving to bolster its Raw Sport Group. So far this year, Petersen has snapped up about a dozen magazines, including In Line, an in-line skating publication, and Slam Presents, which caters to basketball fans.

Relying on a mostly young male readership, the new Petersen division is also planning broadcasting deals and a TV sports production company.

The plans appear to mesh with those of Surfer Publications officials, who have been seeking a buyer for nearly two years.

Surfer Publications has been a subsidiary of For Better Living, an Auburn manufacturer of precast concrete. For Better Living’s founder, F.G. Fabian, bought Surfer in the late 1960s from original owner John Severson. Fabian retired in 1996.

Besides Surfer, which was launched in 1959, Surfer Publications publishes Snowboarder, Powder and Bike.

Surfer magazine claims an unaudited monthly circulation of 112,000. Its chief competitor is San Clemente-based Surfing magazine, which has an audited circulation of 115,000 and generally draws younger readers.

Officials at Petersen and Surfer Publications refused to comment on the deal, which is scheduled to be announced today. Representatives at For Better Living could not be reached for comment.

Susan Magrino, a Petersen spokeswoman in New York, said Surfer Publications’ editorial and sales staffs will remain in their current offices.