Rumour that Bauer could consider acquiring Pacific Magazines has been circulating for some time inside publishing and connected circles has been given oxygen today This from B&T:
According to reports in today’s The Australian, Seven is negotiating with rival Bauer Magazines to offload its Pac Mag business.
Pacific Magazines currently publish titles such as Better Home And Gardens, marie claire, Who, New Idea and Men’s and Women’s Health.
According to Seven’s annual report, Pac Magazines generated revenue of just shy of $130 million for the financial year, down 7.2 per cent from $139.5 million the previous year.
The reverse had been a rumour through late 2017 / early 2018. However, with the latest results from Seven, and a new CEO working on the business, being a seller makes more sense.
If such an acquisition did proceed, there would be implications for all businesses in the magazine supply chain.
For several years, when asked at conferences and when participating in industry panels, if I have been asked I have said that Australia is too small for both Bauer and Pacific, especially with the weekly titles.
About the acquisition of Pacific Magazines by Bauer:
Seems to be a matter of time, Mark!