Rich on Wheels

The commandant of Los Angeles' Black-Foxe Military Institute wanted to remind his cadets to study during Christmas vacation, and he knew just how to contact them: he took an ad in Hot Rod magazine. More than 80% of the student body read the message. Whether they turned back to their schoolbooks is another question. After all, Hot Rod is something of a technical journal; reading it requires quite a bit of a guy's time. And because so many readers are anxious to give it their time, Robert Petersen has cannily capitalized on the pattern of its success. He has brought out nearly a dozen similar magazines and has become a millionaire ten times over. At 39, he is the sole owner of one of the largest U.S. publishing companies west of the Rockies.

Hot Rod is the key to Petersen's empire. He began when the first issue sold out all 10,000 copies at hot-rod rallies and drag strips 18 years ago, and today the magazine is still the most profitable entry in a bulging portfolio that boasts ten magazines and numerous other enterprises. His book division's products vary from the California Angels Yearbook (50-c-) to the handsomely bound Mr. Rifleman ($12.50), and last month he announced plans to publish automotive and hobby paperbacks with the New American Library. His film production company has an hour color special, "The Wonderful World of Wheels," scheduled for September airing on CBS. He is a large stockholder in the Riverside, Calif., International Raceway; he is part owner of a 470,000-acre cattle ranch near Yosemite National Park; and his company's real estate division owns more than 250,000 sq. ft. along Hollywood Boulevard.

Not So Pulpy. Pete Petersen, in short, is up to his seat belt in money. But he has not forgotten that it was his magazines that elevated him from his lowly 1947 status as an unemployed Hollywood publicity agent. His publications still reflect his basic tenet. They are aimed at the active "hobby enthusiast." Their information is reliable, their illustrations are informative, and above all, they speak their aficionados' lingo. Hot Rod (monthly circ. 770,000), for example, is for the flat-out pro. "If you don't know a hemi from a zoomie, you're not ready for Hot Rod," says Managing Editor Don Evans.

So many readers do know the difference that Hot Rod has the distinction of being the most dog-eared magazine in the U.S. More than twelve car buffs pore over each copy, reports W. R. Simmons research company, which conducts readership studies for magazine publishers. Petersen's Motor Trend (monthly circ. 500,000) is not far behind, with 9.02 readers per copy. A sort of high-power consumer magazine, it "is for the average fellow with an above-average interest in autos," says Petersen. Car Craft, Rod & Custom, and Sports Car Graphic cover the other auto buffs Petersen could think of.

There are magazines for other hobbies too. More than 200,000 serious shooters and gun collectors get tips from Guns & Ammo. Skin Diver (circ. 52,000) is just what its name implies. And 'Teen (circ. 731,000) is edited for 13-to-16-year-old girls whose hobby enthusiasm is, naturally, boys. Not nearly so -pulpy as the sound of their names, the magazines overcome the inevitable technicalities and the "vrrooom," "zzzok" jargon with remarkable success. The only consistent exceptions are CARTOONS (circ. 200,000) and Hot Rod Cartoons (circ. 180,000), a pair of mindless bimonthlies that Petersen might conceivably be ashamed of. He is not, though; they both make money.

A Wife to Fit. "People want to be expert in what they do these days," says the crew-cut president, "even in their hobbies. We're helping them." Before he" offers that help with a new magazine, he asks some practical questions. "First, are there enough enthusiasts in the field to command a newsstand sale of 100,000 copies? Second, do these people really need a magazine to par ticipate? Third, do you address yourself to the real fan and stick to your direction?" To test a new publication he tries it as a one-shot. If it sells, he goes to a bimonthly and from there to a monthly.

Unlike many of his competitors, Petersen insists that he will not discount the subscription rate to build a bigger ad base. "I'd rather take the money and give it to charity than sell a cut-price subscription," says the boss.

To service his specialized readers, he demands activists on the staff. His editors are as often as not avid weekend racers, skin divers, or whatever. "You can't fool these people," says Petersen of his readers. "They know." So does he. He is constantly testing new cars, owns a first-rank gun collection and varied trophies, including a 1,500-lb. polar bear that he dropped with a .44 Magnum pistol on a small island off Alaska. His 20-room bearskin-bedecked home in Beverly Hills befits a sportsman millionaire, as does his wife, the former Margie McNally, the Miss Rheingold of 1957. His company board room may well be the only one in captivity with Budweiser on tap, Margie's old affiliation notwithstanding.

There is no end of competition in the fields Petersen has attacked, and some of it is capable of giving him a run for his money--notably Car and Driver. But Petersen likes it that way.

"I figure if there's no competition, you're in a bum field," he says.

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