Solstice Media acquires Australian Traveller Media
Solstice Media has continued its run of acquisitions, this time purchasing a majority shareholding in Australian Traveller Media, the publisher of Australian Traveller and International Traveller magazines and digital assets.
The deal, for an undisclosed sum, gives Solstice Media an immediate 80% stake in the company, with the remaining 20% to be purchased over time.
Australian Traveller magazine was launched in 2005
Solstice Media said Australian Traveller Media will continue to operate as a separate business.
Australian Traveller Media co-founder Quentin Long told Mumbrella all executives and staff will transition under the new structure and remain in their current positions. He said there were no exit plans for himself or fellow co-founder Nigel Herbert, and that the business was focused on a “significant launch in August”. He also committed to keeping its magazine titles in print, noting the ambition was to grow their print footprint.
Solstice Media was recently in the headlines for purchasing the successful 7am podcast from Schwartz Media, but has its origins in Adelaide with digital daily news publication InDaily. It also recently acquired the national New Daily digital news title from Industry Superfunds. Solstice Media had previously operated the publication under contract. In 2018, the company purchased SA Life from Canongate Partners.
Paul Hamra, Solstice Media’s managing director, said the company had been looking to broaden and grow the types of media products it offers and the categories it covers.
“In those categories, we started by looking for companies and products who have shared values with Solstice – based on independence and quality journalism,” he said.
“Travel is still a very strong category among every demographic – with audiences seeking out not only information about where to travel but also what to do around their own locations – everything from ticket pricing to experiences, trends and the best of each location.
Solstice Media’s managing director Paul Hamra
“Australian Traveller Media is a profitable travel publishing company operated by two industry professionals who have been working with Solstice Media on campaigns over the past year. We’ve got to know the team and really liked their approach.”
Australian Traveller Media co-founder Long added: “From launch in 2005, Nigel and I had a strict criteria for any potential partner. They had to be great for all stakeholders, which we defined as our readers, our staff, our advertisers and all shareholders. Solstice Media met all these criteria and then some. To be part of their wider ecosystem is such a great opportunity for our brands and people.
“Having worked together for 12 months, we were able to establish the important alignment of values, which was a bonus. It may be a cliché, but it is truly [a] Goldilocks deal for us and Solstice.”
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topics
Australian Traveller
Australian Traveller Media
Nigel Herbert
Paul Hamra
Quentin Long
Solstice Media
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