'NetGuide' magazine sells to ACP

By SIMON HENDERY

NetGuide founder Phil Ryan has sold the fast-growing internet magazine to Australia-based transtasman publisher ACP.

Under the deal, for an undisclosed price, Ryan will remain as NetGuide managing director for the next three years.

The monthly magazine, which Ryan founded eight years ago, has an audited circulation of 37,000 in New Zealand. Its sister publication, Australian NetGuide, which Ryan established four years ago, has a circulation of 41,000.

Ryan said he had received earlier offers for the magazines, but was excited by the ACP deal because he believed the magazines could grow through ACP's strong transtasman distribution network.

NetGuide will be ACP's first venture into technology publishing in New Zealand, although Ryan said he believed the magazines would benefit from being part of the company's stable of technology titles in Australia.

Bruce Cotterill, managing director of ACP Media in New Zealand, said the acquisition provided the company with an entry point into the local business and computer publishing market.

"We see substantial opportunities to promote and drive the copy sales growth of NetGuide, and provide additional marketing opportunities to advertisers," he said.

ACP's titles include the Australian Women's Weekly, Woman's Day, Metro, and North & South. The company is owned by Kerry Packer's Publishing and Broadcasting.