US publisher Hearst has bought rival Rodale Inc for an undisclosed sum.
The deal snares Hearst Rodale’s book publishing arm and its magazine division that includes some of the world’s top health and wellbeing magazines including Men’s Health and Women’s Health which are currently published under license in Australia by Pacific Magazines.
The deal will see Rodale’s 93 editions in 64 countries become part of Hearst’s portfolio in early 2018.
It’s understood that Rodale was looking to get out of the magazine and book business for some time now.
In a statement, Rodale’s CEO, Maria Rodale, said: “We have a long-standing respect for Hearst’s commitment to connecting consumers with imaginative, engaging content across an ever-diversifying choice of platforms, technologies and experiences around the world.
“We believe our exceptional brands, businesses and employees will thrive in this culture of innovation,” she said, “and we are confident that Hearst’s stewardship will continue to grow the passionate and purpose-driven communities that Rodale has built over the past 70 years.”