Yachting bible sails into new waters
ITS pages grace the coffee tables of Roman Abramovich, Philip Green and Microsoft's Paul Allen. And now Boat International, the billionaires' bible, has been merged with two other magazine groups to form one of the world's biggest yachting publishers in a €50m (£33.4m) deal.
Venture capitalist Henderson Private Capital is buying Boat International Publications, Sailing Today and Coast Living to create a company aimed at capitalising on the growing popularity of messing about on the water.
Most famous of the titles, at least among Russian oligarchs and Monaco-based tax exiles, are those moored at Boat International, which specialise in 'superyachts' more than 60 metres in length and generally worth at least £60m.
Owned by Christian Chalmin, they are thick enough to sink a battleship, with spectacular photography. As economic downturns rarely hurt the world's billionaires, the magazines have proved practically recession-proof in all editions in Britain, France, the US and Germany.
Chalmin will be honorary chairman of the new group, Boat International Publications. But day-to-day running of the business will be done by former IPC Magazines executives Tony Harris and David Joseph.
Sailing Today, bought from publisher Mad for Sport, specialises in sailing gadgetry and accoutrements, while Coast Living publishes Coast Magazine, aimed at people looking for property with moorings in Britain and abroad.
