The bankruptcy auction for F+W Media’s 10 communities has yielded a total of $7.45 million, with the winning bids going before the court for approval later on Monday. Niche magazine publisher Cruz Bay Publishing, a subsidiary of the sizable Active Interest Media, is paying a total of $1.725 million to acquire the writing community, which comprises Writer’s Digest (bought for $200,000), as well as the woodworking, family tree, horticulture. and collectibles communities. The signature crafts community is being sold for $2.85 million to Macanta Investments. As we reported last week, Penguin Random House paid $3 million in cash plus percentages […]
