Fairfax close to IDG deal

Australian publisher John Fairfax Holdings has not yet completed a deal to buy IDG NZ's technology magazines, but says it is close.

Meanwhile, the founder of IDG business title Unlimited says he wants to buy the title back.

The Fairfax deal became public after an announcement to IDG staff early this month but is not expected to include Unlimited or FFWD.

Fairfax Business Media publisher Michael Gill said talks with IDG had taken longer than expected but were likely to conclude within a fortnight.

The future of IDG business title Unlimited remained uncertain, and founder Vincent Heeringa said conversation with IDG had "gone quiet" after IDG contacted him two weeks ago offering the magazine for sale.

Heeringa was also close to buying the title about 18 months ago, but the deal fell over.

Heeringa, who launched competitor Idealog in December, said Unlimited had "haemorrhaged" value over the last two years and he would only look at buying it at a fraction of its former price.

"I really don't know if there's that much to buy any more," said Heeringa.

The Fairfax deal could include weekly Computerworld, fortnightly Reseller News and monthly PC World.

The deal is the latest in a string of Fairfax acquisitions in New Zealand, including online classified advertising website Trade Me in March, business newspaper the Independent in February and the Rodney Times group in September last year.