Bauer cleared to buy APN magazines
German media giant Bauer has been granted Commerce Commission approval to buy a number of high-profile magazine titles from APN.
APN News and Media said last year it was seeking clearance to sell its New Zealand magazine business to Bauer Media Group.
The sale will see titles including the New Zealand Woman's Weekly, The Listener, Simply You Living and Creme change hands and up to 30 APN employees lose their jobs.
Titles acquired by APN from Pacific Magazines in 2010 and published under licence, including New Idea, That's Life and Girlfriend will remain with the Australasian publisher.
Commerce Commission approval was required as the sale concentrated ownership of the New Zealand magazine sector with Bauer.
Bauer, which has its headquarters in Hamburg, focuses on magazine publishing and has operations in 16 countries.
The purchase will substantially bolster Bauer's New Zealand presence.
Bauer last year spent an estimated $600 million picking up Australasian assets of magazine publisher ACP Media, including titles such as Metro, Next and North & South.
- © Fairfax NZ News