Petersen Companies Acquires Diving Magazines

Posted on September 18, 1998

Continuing in its acquisition strategy in special interest publishing, The Petersen Companies, Inc., has acquired the assets of Watersport Publishing, which publishes Discover Diving, Dive Report and Discover Diving Expositions, which includes three major consumer dive shows.

James D. Dunning, Jr., Chairman, CEO and President of The Petersen Companies, Inc. said, "This supplemental acquisition adds to Petersen's Skin Diver Marine Group which is the market leader in the world of recreational diving, reaching more that one million active scuba divers."

Discover Diving is a bimonthly publication with a successful 17-year history in sport diving development. It is best known for its detailed articles and equipment reviews on underwater photography as well as its coverage of shipwreck diving and exploration.

Dive Report is the industry's most successful and best read trade publication. Published bimonthly for the past five years, this publication is expanding its frequency to ten issues in 1999.

Discover Diving Expositions is the dive show development group which has created and produced exceptionally successful consumer dive shows in Atlanta, GA, Santa Clara, CA and has recently added Dallas, TX to its venues.

Ken Loyst, founder of Watersport Publishing, will join the Petersen Companies and continue to operate and develop dive shows and dive industry publications for Petersen. He will be working with Paul Tzimoulis, Vice President and Executive Publisher of the Skin Diver Marine Group.

Loyst added, "Dive Report, Discover Diving and Discover Diving expositions are poised for significant growth and continued excellence. In order to achieve their fullest potential, the publications and shows need a corporate parent that can provide additional capital and publishing efficiencies. Petersen with Skin Diver, is a perfect fit."