ACP Magazines’ parent company is in talks to sell it to PacMags owner Seven West Media, AFR.com.au is reporting this morning.
If the move – reportedly at an early stage – were to take place, it would potentially bring together Seven West’s Pacific Magazines with its larger rival ACP.
The combined magazine operation would dominate the sector and possibly raise competition issues.
Last week saw ACP fare particularly badly in the audited weekly and monthly magazine figures, while PacMags held up reasonably well.
ACP’s parent company Nine Entertainment Co is facing significant debt issues after a planned float was cancelled.
The AFR’s James Chessell and Nabila Ahmed report:
“Sources close to Seven West confirmed that director Ryan Stokes, commercial director Bruce McWilliam and the chief executive of its Pacific Magazines division, Nick Chan, met with Macquarie last week for what were described as “very, very preliminary” discussions.”