Cirrus Media sells Money Management and Super Review to UK’s Financial Express
Cirrus Media has sold its Money Management and Super Review titles to UK publisher Financial Express.
Cirrus Media confirmed the sale to Mumbrella saying there would be no staff redundancies, “with all direct staff transferring to FE [Financial Express]”.
In the print edition marking Money Management’s 30th year, Mike Taylor, managing editor of the publication announced: “At the time of writing, Money Management is owned by Cirrus Media which in turn is owned by private equity firm, Catalyst Private Equity. From next month, Money Management will be owned by UK-based business Financial Express – something that will see it evolve further to better serve its market”.
Financial Express has partnered with Money Management for the past 12 months to supply data for the publication’s Investment Centre.
Despite the change in management, Taylor assured readers the publication’s remit remained unchanged.
“But irrespective of who owns Money Management, the purpose of the masthead remains unchanged – to serve and inform the many thousands of people working in the financial services industry,” he wrote in the editorial.
The sale includes all print, digital and events assets for Money Management and Super Review.
Luke O’Neill, MD financial services and events, will stay on at Cirrus Media to manage the FST media business which includes technology events and conferences for the financial services industry in Australia and New Zealand and south-east Asia.
The sale of Money Management will surprise few given Cirrus Media’s stated position on its remaining media assets. Catalyst Investment Managers aquired Reed Business Information Australia (RBIA) – which was Australia’s largest business-to-business publisher – in 2013.
In September 2014, the publishers of Cirrus Media’s travel and media publications, B&T and Travel Weekly, took ownership of the brands and formed The Misfits Media Company.
The sale, for an undisclosed amount, gave Dave Hovenden and Dan Uglow control of the titles, including associated events such as the B&T Awards.
Then, in October 2014, Cirrus sold Lawyers Weekly to Sterling Publshing (now Momentum Media).
In September 2015, the Intermedia Group bought Hospitality Magazine and its related assets from Cirrus Media.
In June last year, Cirrus continued its sell off, with its architecture, design and building division, including Architecture & Design online, going to Indesign Media Asia Pacific.
