This article was first published by Mumbrella
Australia’s biggest magazine publishing house has confirmed it is looking for a buyer.
Are Media publishes a number of the country’s most-read print titles, including Better Homes and Garden, Australian Women’s Weekly, Elle, Who, Women’s Day, New Idea, and TV Week. It is owned by the Sydney investment firm Mercury Capital.
In a statement sent to Mumbrella, Are Media confirmed it is looking to sell.
“Further to recent speculation, and on the back of a number of market enquires and approaches, we can confirm that a decision has been made to commence a sale process for Are Media, Australia’s leading omnichannel content company for women.”
KPMG Corporate Finance has been engaged to run a formal sale process.
At the company’s upfront presentation last November, Are Media CEO Jane Huxley said its various brands reach nine in 10 women each year.
On top of its magazine empire, Are Media has been building out digital properties over the past few years, with the publisher’s sites drawing 4.5 million unique website users each month.
The company has also moved into the live events space of late, leveraging its brands to launch the Elle Next Gen Awards, the Marie Claire Sustainability Awards and the Marie Claire Success Summit, and The Australian Women’s Weekly Health Summit.
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