News Ltd's deal to buy the Hannan family's magazine publishing interests covers 25 magazine titles, including Vogue, Australian Good Taste, delicious, GQ and Notebook
News Limited announced Friday that it has entered into arrangements with a view to purchasing FPC’s magazine assets from F. Hannan Pty Limited, for an undisclosed sum. News and Hannan are confident the transaction will be completed before the end of the year.
The deal will include 25 magazine titles, including Vogue, Australian Good Taste, delicious, GQ and Notebook.
News Limited chairman and chief executive officer, John Hartigan, says, "This will be a major acquisition that will transform News into one of Australia’s largest magazine publishers, with strong revenue growth upside.
“We will be acquiring a stable of publications with quality content, strong brands and leadership positions across a range of categories.
“Together with our major titles, ALPHA, donna hay and Inside Out, and our market leading network of newspaper magazines, we will have the scale to offer our advertisers vastly expanded reach,” Hartigan says.
Hartigan adds that the acquisition will allow News to develop a range of brand extensions for readers and bundled print media solutions for advertisers.
“This is an exciting opportunity to work with a great publishing house like Conde Nast, as well as the ABC and Woolworths, who are partners with the leading FPC titles,” Hartigan says.
Michael Hannan says, "Selling the magazines has not been an easy decision, but it is the best one for the magazine staff - of whom I am very proud - the brands and our magazine partners. Competition for the titles was fierce, and I am delighted that News Limited has been successful.
"The opportunities now available for these brands within the News Limited stable will be very exciting indeed and I have every confidence in their future success."
News Magazines managing director, Phil Barker, said the FPC titles are “a perfect fit with our existing, highly successful magazines.
“The scale and scope of an expanded News Magazines stable will allow us to offer advertisers exceptional solutions.
“In almost every subject category covered by FPC’s magazines, News is already a major publisher of information through its national, metropolitan, regional and community newspapers. This gives us wonderful opportunities for cross fertilisation and cross promotion,” Barker concludes.
As part of the deal, News Magazines will contract the printing and distribution of all titles to IPMG and NDD for terms of five and three years respectively. News Magazines will also take control of websites attached to the titles including the soon to be launched food and recipe portal www.Taste.com.au.
The magazines which will be included in the deal are:
• Australian Country Style
• Australian Golf Digest
• Australian Good Taste
• Australian Parents
• BCME
• Chopper
• Delicious
• Fast Fours
• Gardening Australia
• GQ
• Lifestyle Pools
• Live To Ride
• Modern Boating
• Modern Fishing
• Notebook
• Overlander 4WD
• Super Food Ideas
• Tattoo
• Truck Australia
• Truckin’ Life
• Two Wheels
• Two Wheels Scooter
• Vogue Australia
• Vogue Entertaining + Travel
• Vogue Living
Existing titles in the News Magazines stable include donna hay, Inside Out, Big League and ALPHA – It’s Sport And It’s Personal.
