Wolseley-backed Nextmedia acquires magazines from CVC's ACP
Nextmedia, the Australian magazine publisher owned by Wolseley Private Equity, has acquired two publications from ACP Magazines, the magazine division of CVC Asia Pacific-backed Nine Entertainment.
The magazines, Inside Cricket and Australian and New Zealand Snowboarding, will add to the 35 titles Nextmedia already publishes.
"At nextmedia we have a terrific portfolio of active sport publications and the inclusion of Australian and New Zealand Snowboarding and Inside Cricket is a great fit which will provide an extended offer to our Inside Sport and Board Sport advertisers," said nextmedia CEO David Gardiner.
Sydney-based Nextmedia, which is also managed by Bruce Duncan as commercial director, was formerly known as Wolseley Media, but changed its name in March 2009. With Wolseley Private Equity's support, the company was established by Gardiner and Duncan in early 2008, through the merger of four family-owned publishing businesses. A further two acquisitions were made in 2009.
CVC, meanwhile, has been in talks to sell ACP Magazines since the start of the year. In February it was reported to have held preliminary talks with Seven West Media and to have appointed Macquarie to explore a potential sale.
According to the Audit Bureau of Circulations, ACP had a 50.7% share of the magazine market for the six months to December 2011, maintaining a leadership position in categories including major monthlies, major weeklies, women's lifestyle, fashion and homemaking.
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