Hachette Unit Buys High Fidelity, Modern Photography Subscriber Lists
NEW YORK (AP) _ Capital Cities-ABC Inc. is ending publication of High Fidelity and Modern Photography magazines and has sold their subscription lists and trademarks to Diamandis Communications Inc., Diamandis said Wednesday.
Terms were not disclosed.
ABC Publishing will end publication of the monthly magazines with the July issues, according to Diamandis.
Subscribers to both magazines will be offered the opportunity to get refunds or transfer their subscriptions to similar magazines published by Diamandis - Stereo Review or Popular Photography.
Several calls were placed to ABC Publishing for comment on why it was closing the magazines and selling the subscriber lists, but they were not returned.
High Fidelity has a circulation of more than 327,000 and Modern Photography was at more than 689,000, according to Diamandis.
Stereo Review and Popular Photography are the leaders in their categories, with circulation of 504,582 and 726,572 respectively, Diamandis said.
Peter Diamandis, head of the company bearing his name that is the U.S. subsidiary of Hachette SA of France, said he expected that no more than 10 percent of the subscribers to the magazines subscribe to both of them.
Diamandis publishes about 20 major magazines, including Audio, Car Stereo Review, American Photographer, Car and Driver, Elle, Memories and Woman’s Day.