ACP plays down defections

By Karyn Scherer

New Zealand's biggest magazine publisher, Australian Consolidated Press, was yesterday doing its best to play down the latest departure of a senior staffer.

The company confirmed it hopes to announce a new editor for its flagship publication, Woman's Day, within the next few weeks, following the resignation of the magazine's top two staff.

The magazine industry was stunned when high-profile editor Wendyl Nissen quit five weeks ago, accusing the company of penny-pinching.

Her claims were rejected by the company, which accused her of over-spending, and of failing to revive sales.

Her deputy, Sido Kitchin, also handed in her notice this week.

Friends claim she had "personal issues" over management interference, however she was reluctant to comment on her reasons yesterday. She confirmed she hoped to stay in the magazine industry.

Managing director Bruce Cotterill rubbished claims that ACP's refusal to pay the fees being asked for candid photos of broadcaster Paul Holmes and his new girlfriend, 28-year-old Deborah Hamilton, had anything to do with the latest move. The photos were published this week by rival women's magazine New Idea.

"There are a variety of reasons as I understand it," said Mr Cotterill. "Some of them are things that probably indicate ACP could have done things better, and some of them aren't."

According to the Audit Bureau of Circulations, sales of Woman's Day dropped by nearly a sixth last year, to around 160,000 copies a week. They are believed to have since picked up.

It is New Zealand's biggest-selling women's magazine, although rival New Zealand Woman's Weekly claims a bigger readership.

* Meanwhile, shares in Hoyts Cinemas rocketed 16 per cent to $A2.15 on the Australian sharemarket yesterday morning after Kerry Packer's Conspress Holdings announced a bid of $A2 a share for the cinema chain.
The bid values all of Hoyts shares, which are stapled to common shares in Hoyts Cinemas America, at $A609 million.

Asked whether the price of Hoyts stock signalled market acceptance of the Conspress bid, an Ord Minnett dealer said: "No way. The market is saying it's a very cheap and cheeky offer."