Bauer scoops up APN's New Zealand magazine portfolio
The New Zealand magazines business of APN News & Media is to be acquired by Bauer Media Group.
Bauer is one of Australia's largest magazine publishers
The purchase is subject to approval by the ACCC.
Bauer will consolidate its position by publishing New Zealand Woman's Weekly, The Listener, Simply You, Simply You Living and Crème.
"It is absolutely a vote of confidence in our business and the future,'' Bauer New Zealand chief Paul Dykzeul said in a statement announcing the acquisition.
He said it was ``an extraordinary opportunity to significantly enhance Bauer's business and bring the benefits of an expanded portfolio to readers and advertisers alike''.
He added: "We look forward to welcoming these talented teams and iconic media brands into the Bauer Media Group as we combine the best of our resources and expertise.''
APN's New Zealand media head Martin Simons said: "The development of new, transactional verticals in food, travel and fashion is the priority for APN's New Zealand Media business."
He added: "This includes the further integration of APN's highly successful New Zealand Herald inserted magazines and Herald Online which together will continue to provide high quality content to readers across New Zealand."
Bauer Media publications in Australia include Empire, Rolling Stone, Australian Geographic Outdoor, Inside Rugby, The Australian Women's Weekly, Woman's Day, Take 5 and OK!