ACP Magazines ‘set to be sold to Bauer’
ACP Magazines is set to be bought by German publisher Bauer, with a deal to be announced as early as today, The Daily Telegraph is reporting.
Speculation has suggested for several months that parent company Nine Entertainment Co is looking to sell as a way of reducing its large debts.
ACP is Australia’s largest magazine publisher with titles including Australian Women’s Weekly, Cleo, Woman’s Day and Zoo Weekly.
The Tele reports: “An ACP source said last night: ‘Talks are at an advanced stage. It is happening.'”
Look busy. Ze Germans are coming!
To be honest, I’m shocked!! Soon, we’ll have nothing left to sell…
So EMAP sells its Australian mags to ACP and right ater that Bauer buys EMAP. Now Bauer buys ACP and gets back some old EMAP titles – is anyone else dizzy yet?
Bauer is a fantastic company to work for. I worked for them very happily for five years in the UK. They value editorial staff and have a good track record of managing magazines. Hopefully lots of Australian jobs at ACP will now be safe as a result.
This will be the nadir of Australian publishing. So many long established, iconic mastheads falling into foreign hands. Sir Frank, Ted Theodore and Kerry must be spinning intheir graves. Doesn’t say much for our national pride or IP. Next step will be the inevitable “rationalisation”. Particularly poignant and ironic that this sell-off broke on the same day that part two of Paper Giants screened on Aunty.
Wow, Bauer have purchased the titanic after it hit the iceberg.
What happens to the whole cross platform POWERED thing for Nine Ent Co ? they lose a lot of eyeballs with the mags going…..
Will Ninemsn have any mag content to put up online ?
Then there is the Hearst Mags that ACP produce……is Bauer a competitor to Hearst ?
Interesting !