Iconic Aussie magazines up for sale
Publisher Are Media, which publishes the Australian Women's Weekly, New Idea, Better Homes and Gardens, TV Week, Marie Claire and other well known magazines, is up for sale.
The Women's Weekly is Australia's most read magazine and the New Idea has been printed for more than 120 years.
The owner of Are Media has put the magazine titles up for sale.
Are Media estimates 90 per cent of Australian woman seeking 'entertainment, inspiration, information and escapism' read their magazines each month. The New Idea has been printed in Australia since 1902. Credit: Supplied
The publishing group was started by Sir Frank Packer (father of Kerry Packer) and Edward Theodore in 1932 and later merged with the Associated Press to become Australian Consolidated Press.
Bauer Media acquired the magazines in 2012 for an estimated $525m from ACP, then bought Pacific Magazines acquiring Marie Claire and Better Homes and Gardens from Seven West Media in 2020 for $40m.
Mercury Capital took ownership of the publisher for an estimated $40m to $50m in 2020, five years on, they have now listed the business for sale with KPMG Corporate Finance The publisher of The Australian Women's Weekly, Are Media is up for sale. Credit: Supplied
A Mercury Capital spokesman said they had decided to sell Are Media.
'Further to recent speculation, and on the back of a number of market inquiries and approaches, we can confirm that a decision has been made to commence a sale process for Are Media, Australia's leading omnichannel content company for women,' he said.
An email from Are Media chief executive officer Jane Huxley to staff said the decision came from a place of strength and optimism. Mercury Capital confirmed they were selling Are Media five years after they purchased the publishing business from Bauer Media. Supplied Credit: Supplied
'We've built incredibly strong foundations, and now it's time to take the next step,' she said in the email.
'Nothing changes day to day. Our teams, priorities, your roles, and goals stay the same.
'We'll keep delivering great content, driving results, and doing what we do best.
'We are committed to delivering 2025 and will be planning for 2026 the same way we always have.'
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