Are Media, the magazine publisher known for titles such as Australian Women’s Weekly, is set to divest its print assets. This move follows Mercury Capital’s acquisition of Are Media’s collection of magazines—which previously belonged to Bauer Media Australia and New Zealand, as well as Pacific Magazines—in 2020.
Now, five years later, Mercury Capital is positioning to sell some of the largest magazine titles in Australia. Among the 20 publications under Are Media’s umbrella are well-loved brands including marie claire, ELLE, New Idea, that’s life!, Take 5, Woman’s Day, WHO, Better Homes and Gardens, and Gourmet Traveller. Additionally, Are Media operates a logistics division, Are Direct, which manages the distribution of its magazines nationwide.
Reports indicate that Are Media’s CEO, Jane Huxley, communicated these plans to staff this week, reassuring them that operations will continue as normal during the transition. Mercury Capital’s initial investment to acquire Bauer Media’s Australian assets in June 2020 was estimated to be between $40 to $50 million. Notably, earlier that same year, Bauer Media expanded its portfolio by absorbing Seven West Media’s Pacific Magazines, thereby consolidating a number of competing titles under one ownership.
KPMG is anticipated to oversee the sales process for the magazine portfolio, although sources suggest that Mercury Capital is not in a hurry to finalise a sale. This shift underscores the changing landscape of print media in Australia, reflecting broader industry trends towards digitalisation and evolving consumer preferences. As the company navigates this transition, its iconic magazine titles remain treasured by their loyal readerships.