Business-to-business publishers to merge

2.30 pm May 2, 2006

For immediate Release
Press Statement

Business-to-business publishers to merge

Profile Publishing, Review Publishing and Marketplace Press getting together

Three of New Zealand’s leading business-to-business magazine publishing companies plan to merge to form a major new media group, provisionally named NewCo Media Ltd. A name for the new company will be chosen before the end of the year.

The Auckland based companies, Profile Publishing, Review Publishing and Marketplace Press, will be equal one third shareholders in the new, expanded enterprise. The companies will formally merge their operations from January 1, 2007.

The move will create New Zealand’s largest business-to-business publishing house with at least 16 leading business-to-business and consumer titles, plus a range of directories, books, industry events, online services and newsletters.

The managing directors and principal shareholders of the three companies, Peter Mitchell of Review, Bud Little of Marketplace Press and Reg Birchfield of Profile will jointly manage the business for at least the first 12 months of the merger.

The publishers do not expect any redundancies as a result of the merger. Their objective is to build the country’s strongest and most dynamic business-to-business media company, to create more career opportunities for their people and to build the long term profitability and growth of the merged business.

They believe the merger will ensure the growth of their specialist publishing activities in a fast changing economic and technological environment. They will use their print publishing skills and new internet communication capabilities to extend, complement and to expand their business-to-business media options and activities.

The merger will allow the companies to combine the editorial resources, design facilities, production skills and management processes they have developed separately. The aim is to create a more effective, expanded print and online publishing operation and to offer a comprehensive suite of communication opportunities to New Zealand businesses and consumers.

The three companies bring a wealth of experience to the business-to-business publishing scene. Each has traded successfully for more than 20 years.

The magazine titles to be published by the new company will include:

Management
Marketing Magazine
AdMedia
NZ Dairy Exporter
Onfilm
Grill
Essentially Food
Food Service
FMCG
C-Store
Apparel
BWS
NZ Hardware Journal
Wares New Zealand
NZ Outdoor Power Equipment
Inspirations@Home

ENDS

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