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IDG acquires business magazine, Unlimited

IDG acquires business magazine, Unlimited

For immediate release 20 July 2000

IDG yesterday acquired full ownership of the monthly

The award-winning title had previously been a joint venture between the USA-based publisher IDG Communications and Fourth Estate Holdings Ltd, publisher of the National Business Review.

The move was announced yesterday in a joint statement by IDG New Zealand managing director Martin Taylor and National Business Review publisher, Barry Colman.

They said the decision was a strategic one which would free up both companies to pursue new print and electronic ventures without conflict of interest issues being raised. The statement said, "It was the pooling of the resources of both publishing companies that made the speed of its financial success possible but both parties agree it is timely to move

on and explore new business opportunities individually."

The glossy magazine was launched in November 1998 and currently has an ABC-audited circulation of 7,240. In its first year it won the 1999 Magazine Publishers' Association Magazine of the Year (Business/Professional). Last month it was named New Zealand's best trade and professional magazine in the 2000 Qantas Media Awards and it has collected numerous individual journalism and design awards.

Unlimited has exceeded its budgeted financial forecasts, becoming profitable only 14 months after its introduction. "We believed there was a need for this type of new economy magazine in New Zealand and we have now proved that. Unlimited is now strongly positioned as New Zealand"s number one business monthly," the statement said. The August issue, out next week, has posted an all-time record for advertising revenue. IDG has held the management contract for publishing Unlimited since its launch so the change of ownership structure will have no impact on day to day operations.



________________________________________________________

For more information contact: Martin Taylor, managing director, IDG Communications on 09-377 9902 or email martin_taylor@idg.co.nz IDG is one of the world's largest media companies with local editions of its publications produced in more than 75 countries. Its New Zealand operationis one of the country's largest specialist publishers.

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