Metro publisher Tiger Oak loses deal to sell meetings mags

[Note: update added below.]

Minneapolis-based Tiger Oak, which publishes Metro and Minnesota Bride among other suburban and national magazines, has lost a deal to sell off its meetings-and-events titles for badly needed cash.

The company had previously announced the deal to sell the nine titles to Tiger Oak president Jim Bergeson would close Oct. 30. At the time, Tiger Oak publisher R. Craig Bednar said, “The sale provides Tiger Oak the resources and capital to focus on our current titles and expanding their market share.”

Associate publisher Dena Alspach says Bergeson will remain with the company and be group publisher of the meetings and events books. So what does this do to Tiger Oak’s cash cushion and business plans, and why did the deal fall through? Alspach and I were still exchanging messages as MinnPost’s morning deadline loomed, so I’ll update this item when I hear back.

Update: Alspach writes, “I can’t give specifics about the deal. It’s a very successful group and we are happy to keep them. Not a prob for us.”

Comments (1)

  1. Submitted by Bridgette Bornstein on 11/09/2009 - 10:53 am.

    I would be interested to know if Tiger Oak has paid off the bill for the titles purchased from Petters. Last I heard, the $250,000 had not been paid in full. That was for the former MMG titles.

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