Rodale Inc. Puts Itself Up for Sale
Rodale, the publisher of Men’s Health, Women’s Health, Runner’s World and other titles, is considering” strategic alternatives.”
The magazine publisher, which is owned by the Rodale family and run by chairman and chief executive officer Maria Rodale, said Wednesday that a company sale is among those options.
According to Rodale, the board of directors has initiated a process to explore several options, which may include the “sale of the company as a whole, the sale of select properties or groups of properties or individual business, or the continued implementation of its business plan.”
“For over 70 years Rodale has inspired exceptional customer loyalty through its uncompromising commitment to the creation of health and wellness content with a purpose,” said Maria Rodale. “We believe that Rodale’s brands can continue to expand and deepen their connectivity with consumers across all platforms through targeted investment and expertise in leading edge technology, brand-building and commercialization. We are excited to explore opportunities for potential buyers of our business who can build on the strong foundation of our commitment to inspiring health, healing, happiness and love by enhancing core capabilities and resources for our brands.”
The move follows another very public sale process, in which Time Inc.’s board entertained bids to sell the company. After several weeks of evaluating the idea, Time Inc.’s board decided to push forward with the company’s plan to adapt its business to the digital landscape. That plan has thus far included cutting about 300 jobs as it shores up savings to deploy on growing other parts of the business, including video, sponsored content, brand licensing, merchandising and new paid products and services.
Both Time Inc. and Rodale said that there may be opportunities to spin off select titles to buyers.
Returning to Rodale, the publisher said its board has not set a definitive schedule to complete its review process. Allen & Company LLC will work as the firm’s financial adviser.
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