Writing on his popular namesake blog, Geoff Shackelford is reporting that Time Inc has agreed to sell its golf media properties, including Golf Magazine and Golf.com, to investor Howard Milstein and Emigrant Capital.
News that the titles were up for sale first broke in October.
The sale of the iconic 58-year old magazine, and valuable URL, is expected to close in mid January 2018.
Milstein reportedly beat out multiple suitors, including Golf Channel and tee time services eager for the user-friendly URL. Several parties signed non-disclosure agreements to inspect Golf’s books, including Golf Digest.
Milstein is no stranger to golf, having invested in Miura Golf, True Spec and in the Jack Nicklaus empire. That partnership began in 2007.
Insiders say the Chairman, President and CEO of New York Private Bank & Trust—the nation’s largest privately owned, family-run bank, is purchasing Golf through its operating bank, Emigrant Capital. Milstein is believed to be bullish on making Golf work as a media company with the obvious synergistic benefits to his other investments in the sport.
