Bauer Media Group in New Zealand and APN News and Media Limited have announced that they have entered into a sale and purchase agreement for Bauer to acquire the New Zealand magazines consumer titles from APN.
The agreement is subject to clearance from the Commerce Commission.
Under the agreement, all APN wholly owned magazine brands, being the New Zealand Woman’s Weekly, The New Zealand Listener, Simply You, Simply You Living and Crème, along with their digital properties, will pass to Bauer.
APN will continue to publish New Idea, That’s Life and Girlfriend magazines under licence from the Pacific Magazines Group Australia.
CEO of Bauer in New Zealand, Paul Dykzeul, said, “This is an extraordinary opportunity to significantly enhance Bauer’s business and bring the benefits of an expanded portfolio to readers and advertisers alike.“
The synergies and scale that this transaction brings to Bauer will extend the company‘s reach and deepen content and talent in key magazine verticals: the weekly market, current affairs, fashion and beauty, home and garden and the young women’s category. The acquisition will also open the door for new growth and investment, build on Bauer’s brand communities, and deliver new digital touchpoints.
“It is absolutely a vote of confidence in our business and the future. We look forward to welcoming these talented teams and iconic media brands into the Bauer Media Group as we combine the best of our resources and expertise,” Dykzeul said.
Source: Magazine Publishers of Australia