Bauer Completes Sale To Mercury Capital

Bauer Completes Sale To Mercury Capital

Bauer Media has announced it has now completed the sale of its Australian Publishing business to Mercury Capital.

The divestment, which was previously announced in June, has received the approval of the relevant regulatory authorities.

All of Bauer Media Australia’s employees, the ownership of its print and digital assets, including those brands recently acquired by Bauer from Pacific Magazines, and Bauer’s New Zealand mastheads have now transferred to Mercury Capital. 

It’s believed Mercury paid less than $50M for all of Bauer’s titles, which now also include Pacific Magazine titles, too. Other sources close to the deal have suggested Mercury paid just over $40M.

The buying price is significantly lower than the $525 million global chief executive Yvonne Bauer bought the business for in 2012.

Bauer Media announced one month ago it has agreed to sell its Australian publishing business to Mercury Capital, subject to regulatory approval. 

Veit Dengler, Bauer Media COO said at the time: “Bauer Media remains committed to magazine publishing. This decision supports our strategy to invest in our market leading brands where we believe we are best placed to do so.”

“We have been proud to be the custodian of these iconic brands in Australia. I would like to thank our talented teams for their commitment and the contribution they have made to Bauer Media. I wish them well for the future.”

Brendon Hill, Bauer Media ANZ CEO, said at the time: “This signals an exciting new chapter for the business. With new ownership and our bolstered portfolio, we have unparalleled opportunities to connect with more Australians than ever before and continue our strategy of digital growth and innovation.

“We have increased flexibility to diversify revenue streams and grow and innovate across our multi-platform offerings. Additionally, we are well placed to invest in the key drivers of future success – high-quality content and digital development which is good for us, our audiences, clients and the Australian industry as a whole.”

 




Please login with linkedin to comment

Bauer mercury capital

Latest News

Cosmo Returns To Australia!
  • Media

Cosmo Returns To Australia!

Ever get the feeling we've weirdly warped back to 1988 at the moment? Confirm it with the relaunch of Cosmo in print.

Sydney Comedy Festival: Taking The City & Social Media By Storm
  • Media

Sydney Comedy Festival: Taking The City & Social Media By Storm

Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]

Global Marketers Descend For AANA’s RESET For Growth
  • Advertising

Global Marketers Descend For AANA’s RESET For Growth

The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA  Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]