Krause Publications Sold For $120 Million
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Comics Buyers Guide, Comics and Games Retailer, Scrye, Card
Trade, Toy Shop and Numismatic News, has recently been sold
to F&W Publications of Cincinnati for $120 million.
This should
result in a nice payday for the 450 Krause employees, who will divide some $80
million from the sale of the employee-owned company. A spokeswoman for F&W
Publications also stated that Krause would remain in Iola, Wisconsin and that
their employees would be retained.
Krause Publications was started in
1952 by Chet Krause, a Waupaca County carpenter and coin collector who wrote the
first issue of Numismatic News at his mother’s dining room table.
Krause Publications now includes 46 different hobby-oriented magazines and a
book division that publishes more than 125 volumes a year. F&W Publications
currently publishes Writer’s Digest and The Artist’s Magazine.
The man behind the new acquisition is William F. Reilly, who also bought
F & W earlier this year and appears to be bent on acquiring a large chain of
specialty publications. Reilly is the former head of Primedia, which publishes
about 250 magazines, including such big names as New York and
Seventeen. Given the increasing competition and declining sales of
general interest periodicals, however, Reilly’s current plans appear to favor
small, more narrowly oriented publications with stable readerships. And Krause
Publications definitely fills that bill.
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