However, magazines will only thrive in combination with the internet, smartphones and augmented reality, according to Bauer Media Group.

Bauer Media chief executive Yvonne Bauer told The Australian that ACP's "cleverly designed digital strategy" had made it a perfect takeover target for the German media giant.

"Print is our core business: we make popular, emotional magazines that are read by millions of people every week. Well-made magazines will always find their readers," she said.

"So we are investing in print because it pays off – also with regards to digitalisation. Strong media brands are the currency we can use to thrive in a digital world…"

[Feature: Bauer buyout adds some gloss to magazines]

Bauer said the publisher's commitment to print could be seen in its decision to launch an Australian edition of Elle in September. She described the famous title as "an outstanding example of a multi-platform magazine".

She also said Australians were ahead of Europeans when it came to embracing digitalisation and paying for online content.

Bauer said Bauer Media would monitor print's role in the advertising mix, but that "the absolute number of magazines purchased continues to be strong".

"Thus the benefit of advertising in magazines is arguably the highest of any medium and if advertisers are looking to ensure they have a real return on their marketing spend they need to ensure magazines are a strong part of the marketing mix," she told The Australian.

[LinkedIn: Was Murdoch right to say newspapers are dying?]

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