Bauer cleared to buy APN magazines

MATT NIPPERT
Last updated 09:26 24/01/2014

Relevant offers

Industries

Man dead after being struck by log in Stratford, Taranaki Top liquidator on other side of fence Kidicorp owners give childcare firm to charity Jobs uncertain as struggling trucking firm sold to rival Form plus fans equals good result for franchises Tourism industry travelling well again International arrivals grow 15pc in February Sales up but investment costs weigh on venture Air New Zealand adds extra service to Melbourne for cricket fans Sony store closures not set to hit NZ

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.

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content