Independent publishing house Sterling Publishing has agreed to acquire Morningstar’s financial services trade titles and associated events.
Titles moving to Sterling Publishing will include InvestorDaily, IFA (Independent Financial Adviser) – incorporating SMSF – and Investor Weekly.
Th deal is likely to be completed next month. No price was disclosed.
InvestorDaily has delivered financial news since July 2000. IFA was one of the first trade magazines for the financial planning industry.
Sterling will also acquire a number of events for the financial planning and institutional investment sectors, including the Wraps, Platforms & Masterfunds Conference and the Self-Managed Superannuation Fund Strategy Day.
Sterling group publisher Alex Whitlock said: “Over the last few years we have seen the beginnings of a convergence between financial planning and mortgage broking and this looks set to gather pace in the future.
“We’re recognised for our ability to combine traditional print with evolving digital publishing platforms to build engaged readerships. The acquisition of these titles will create a wider network of interconnected financial professionals, adding significant value to both readers and advertisers.”
Sterling’s titles include The Adviser, which focuses on mortgage and finance brokers, Real Estate Business and Smart Property Investment.
Morningstar Australasia Chief Executive Officer Anthony Serhan said: “We’ve made a strategic decision to streamline our product line and focus on our core research, software, data, and investment management businesses.”
There are currently major changes of ownership going on within this publishing niche. A rival publisher is Reed Business Information Australia whose titles include Money Management and Super Review. It is also currently for sale with speculation that a private equity firm is in exclusive negotiations. RBI also publishes the likes of Australian Doctor and B&T magazine.
Another big magazine transaction currently taking place is the sale of ACP magazines to Bauer.