Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Metro publisher Bauer cleared to buy APN magazines

Metro publisher Bauer cleared to buy APN magazines, inc Listener

Jan. 24 (BusinessDesk) - Bauer Media Group (NZ), which publishes Metro and North and South magazines, has been cleared to buy a handful of APN News & Media’s New Zealand magazine titles, including The Listener and New Zealand Woman’s Weekly.

The Commerce Commission today cleared the acquisition, saying it was satisfied the deal won’t substantially lessen competition in the supply of current affairs, weekly women’s and women’s interest magazines, nor magazine advertising, it said in a statement. The deal will see APN sell the NZ Woman’s Weekly, Simply You, Simply You Living, New Zealand Listener and Crème titles to the German group.

“The merged firm would continue to face competition from the suppliers of other magazine titles and alternative platforms, such as television, newspapers and the internet,” chairman Mark Berry said.

New Zealand’s magazine advertising turnover rose 9.7 percent to $210 million in 2012, accounting for almost a tenth of total advertising turnover, according to Advertising Standards Authority figures.

Hamburg-based Bauer already publishes 20 magazines in New Zealand, including Woman's Day, The Australian Woman's Weekly, Next, Taste, Metro and North & South. In September last year, Bauer spent an estimated A$644 million on the Australasian assets of magazine publisher ACP Media.

APN will continue to publish New Idea, That’s Life and Girlfriend magazines under licence from Pacific Magazines Group Australia, which are not included in the sale.

(BusinessDesk)


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Retail Card Spending Down 0.2 Percent In July
Retail card spending fell $11 million (0.2 percent) between June 2022 and July 2022, when adjusted for seasonal effects, Stats NZ said today... More>>




Barfoot & Thompson: Auckland Rental Prices Inch Up Again, But Upward Trend Could Ease In Coming Months

Data from nearly 16,000 rental properties managed by real estate agency Barfoot & Thompson shows Auckland’s average weekly rent rose by $6.12 (or 1 percent) during the second quarter... More>>

ComCom: Draft Report Says Regulatory System Favours Established Building Products
The Commerce Commission’s draft report into competition in the residential building supplies industry has identified two main factors negatively impacting competition... More>>


Commerce Commission: Draft Determination On News Publishers’ Association’s Collective Bargaining Application
The Commerce Commission (Commission) has reached a preliminary view that it should allow the News Publishers’ Association of New Zealand (NPA) to collectively negotiate with Meta and Google... More>>


Heartland: Retirees Facing Pressure From Higher Cost Of Living And Increasing Debt In Retirement

Heartland has seen a significant increase in Reverse Mortgages being used to repay debt. Among the most affected by the increasing living costs are retirees, many of whom are trying to get by on NZ Super alone... More>>


APEC: Region’s Growth To Slow Amid Uncertainties And Crises
Economic growth in the APEC region is expected to slow this year amid soaring inflation, a protracted war in Ukraine and heightened uncertainties, on top of the continuing impact of the pandemic and virus mutations that are draining resources, according to a new report by the APEC Policy Support Unit... More>>