Jim Pattison to sell U.S. magazine business to Chatham affiliate
Jim Pattison Group Inc (JPG) has agreed to sell the U.S. magazine distribution assets of TNG Inc to American News Co LLC (ANC), an affiliate of U.S. hedge fund Chatham Asset Management. No financial terms were released for the sale, which includes TNG's interest in The News Group LP. It is expected to close next month. TNG's Canadian assets will continue to be held by JPG, a Vancouver-based conglomerate owned and led by Canadian billionaire Jim Pattison. The deal will result in the launch of ANC as a magazine wholesaler in the United States for publishers and retailers.
29 November 2018•3 mins read
