ACP Magazines to be sold to German giant

Reported by Nick Pearson, ninemsn
Tuesday, September 4, 2012

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The publisher that makes iconic Australian magazines like The Australian Women's Weekly, Woman's Day, and Cleo is set to be sold to a German company.

Nine Entertainment, which partly owns ninemsn, has announced plans to sell ACP Magazines to Bauer, a German publisher.

Among the 110 titles published by ACP are Rolling Stone, Zoo Weekly, People, Dolly, Grazia, TV Week and Australian Geographic.

Hamburg-based Bauer currently publishes UK titles Heat, FHM, Zoo and Grazia as well as many others worldwide.

The sale is expected to bring about $500 million to Nine Entertainment's owner CVC Asia Pacific, allowing the company to pay down much of its debt.

ninemsn is a joint venture between Nine Entertainment and Microsoft.

Source: Nine News

Author: Nick Pearson

26/05/2013 03:52Sydney, Australia. 26 May,2013
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