Bauer Media completes sale to Mercury Capital
Bauer Media’s Australian publishing division is now officially owned by Mercury Capital, with the relevant regulatory authorities providing approval on the sale.
Bauer Media Australia’s staff, print and digital assets and New Zealand mastheads have all now been transferred to Mercury Capital as part of the deal which is rumoured to be worth less than $50m.
Bauer Media’s suite of brands
The incompetent MEN who destroyed a once great industry will get away with it scott free – for now – while the mostly female workers are redundant in a COVID wasteland.
Can’t wait to see Channel 7 go down in flames after what happened to Pacific. Big Brother isn’t going to keep that lame duck flying.
Bauer are some of the worst players in this game, and they didn’t exactly get away scott free. Bauer paid $535 million for ACP, then $40 million for Pacmags, and sold the whole lot for $50 million a few years later. And why make this about gender? The CEO of Bauer is Yvonne Bauer, who is less of a man than you make out (although maybe just as incompetent). Lots of people to blame in this situation, but let’s not get sexist.
That will happen Miss Thang, but not because of the gender based outrage that you are promoting. Nobody reads mags anymore! If you were made redundant by Bauer, it’s probably a blessing in disguise.
Didn’t realise MEN was synonymous with technology. Magazines died because it got replaced by Instagram/Facebook and other digital tabloids.
Also what’s going on with the moderation process? Didn’t realise you could demonize half the population for a FEMALE skew medium no longer being purchased by FEMALES.
Rumoured to be less than $10M
$34M is the number you’re looking for but includes concessions and staggered payments over 3 years. Your under $10M rumour is the first of these payments. Still, a massive loss, and when you consider that Bauer Germany had to kick in $40M AUD to purchase Pacific as this was it’s only opportunity to offload the business and escape even worse losses shows the gaping hole it was truly in.
There are analysts who have reported that Bauer globally is now worth less than €60M, down from a high of €3.5B.
Where Chump Change do you get these figures from, please?