PADI purchases Bonnier Corp’s Diving Media Group
Bonnier Corporation's Diving Media Group has been sold to PADI for an undisclosed sum.
The group includes Scuba Diving magazine, scubadiving.com, Sport Diver magazine, sportdiver.com and Skin Diver magazine. At present, this group has a readership of more than 75,000, with 820,000 social media followers and 540,000 unique monthly website visitors.
Our investment in this premier dive media group is a natural progression in PADI’s mission to educate and inspire our dive community. Drew Richardson
PADI Worldwide president and CEO Drew Richardson stated “Our investment in this premier dive media group is a natural progression in PADI’s mission to educate and inspire our dive community. Over the past few years, we’ve seen a consolidation of dive media, particularly in the United States.
Our relationship with Bonnier Corporation dates back to 1999 and, in that time, we’ve developed a unique bond built on trust, integrity and the empowerment of divers to be ambassadors for our blue planet."
PADI has stated it is committed to ocean conservation. As the publications evolve, they will provide the dive training agency with another communication vehicle to help raise awareness of this important cause.
With the acquisition now confirmed members of PADI Club will receive a subscription to the 9x per year Scuba Diving magazine, access to the new multimedia platform, ScubaLab Gear Guide and World’s Best special issues.
PADI consolidates its position
In March 2017, a group of family offices and investors called Mandarinfish Holding purchased PADI from the private equity firm 'Providence Equity Partners' for more than $700 million. According to Darcy Kieran of the 'Business of Diving Institute', two figures that manage Mandarinfish Holdings and sit on PADI's Board of Directors are Albert J Dobron and Amin C Khoury.
The absorption of Bonnier Corporation’s dive media group is the latest stepping stone in creating "the ultimate PADI experience" and 'PADI Club'. PADI previously purchased purchased Diviac (launched at DEMA.2013) in January 2018. One has to wonder, what is PADI looking to purchase next?