APN selling NZ Magazines businesses

This week's New Zealand Woman's Weekly cover. Photo / APN

APN News & Media has announced it will be selling its New Zealand Magazines' titles to publisher Bauer Media Group.

The two companies have entered into an agreement regarding all APN's wholly owned magazine brands, which include New Zealand Woman's Weekly, The Listener, Simply You, Simply You Living and Creme.

APN, which owns The New Zealand Herald, said the deal would not affect its Pacific Magazines titles - New Idea, That's Life and Girlfriend.

These magazines would continue being published by APN under licence from the Pacific Magazines Group Australia.

The sale to Bauer was subject to clearance from the Commerce Commission, APN said.

The New Zealand Magazines' titles would continue to be managed by APN until the transaction completes.

APN said the sale reflected its strategy to focus on more digital opportunities.

"Continuing to drive our newspaper businesses and the development of new, transactional verticals in food, travel and fashion is our priority.

"This includes further digital integration of our highly successful New Zealand Herald inserted magazines with Herald Online, which together will continue to provide high quality content to readers across New Zealand."

The Australasian company said it was confident the Pacific Magazine titles would continue to play an important role in the New Zealand market.

The smaller magazines portfolio meant it could be more easily networked with APN's newspaper and online products, it said.

APN said it started consultation with staff on the proposed sale this morning.

"As part of the agreement, the majority of New Zealand Magazines employees will have the opportunity to transfer to Bauer. Where possible, APN will look to redeploy those who may not be required."

- HERALD ONLINE