Fairfax to buy into tech mag market

Australian publishing giant John Fairfax Holdings is poised to bolster its presence in the tech magazine market here by buying several IDG New Zealand titles.

It is understood that the deal is unlikely to include magazines Unlimited and FFWD and leaves a question mark over the future of the New Zealand arm of global network IDG.

IDG NZ managing director Julie Gill said an internal staff announcement was made about the acquisition yesterday.

But she refused to elaborate because she had not been authorised to speak publicly.

Fairfax corporate affairs director Bruce Wolpe confirmed discussions were under way to buy the titles - which could include weekly Computerworld, fortnightly Reseller News and monthly PC World - but would not give a timeframe.

"There are some issues to work through and it's not imminent and we are working through it," Wolpe said.

He said Fairfax was working with IDG in Australia and New Zealand in a "cross-regional conversation".

Fairfax New Zealand head Joan Withers said the deal was being driven from Australia.

News of the takeover was apparently delivered to local staff yesterday by IDG Australia managing director Don Kennedy.

Sales, administration and publishers' jobs appeared at risk, said one of the company's estimated 60 employees.

Former IDG managing director Bob Pinchin said Fairfax was weak in the area of technology magazines here and buying IDG titles would give entry to the market.

"I guess this is a way of rounding out their magazine offering over here."

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.