Bauer Media buys Pacific Magazines
By Jonas Lopez in Media News on Monday, 21st October 2019 at 3:32pmSeven West Media is selling Pacific Magazines to Bauer Media for $40m.
The proceeds are to be used in paying off Seven West’s debts, but the sale itself is subject to ACCC approval.
Seven West and Bauer Media will also have new agreements to share lifestyle content and joint production of the Better Homes and Gardens TV show, plus a three-year ad contract for Seven West to promote over Bauer Media titles worth $6.6m.
“The sale of Pacific Magazines is another major initiative aligned with our strategy to improve balance sheet flexibility and simplify the operating model to enable greater focus on growth initiatives,” said Seven West CEO James Warburton.
“The team at Pacific have been at the forefront of our groups transformation and have done a tremen...
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