Investment firm Mercury Capital is seeking a buyer for Are Media, which operated a range of titles in New Zealand and Australia.
In a statement, a spokesperson said “further to recent speculation, and on the back of a number of market enquiries and approaches, we can confirm that a decision has been made to commence a sale process for Are Media, Australia’s leading omnichannel content company for women.”
KPMG Corporate Finance had been engaged to run a formal sale process.
Various media were reporting that staff were told the company was up for sale by email from Are Media chief executive Jane Huxley.
Are Media was formed after German publisher Bauer Media pulled out of the magazine market in the region during the Covid-19 pandemic.
In New Zealand, the magazines include some of the countries oldest and, at times, best read.
The New Zealand Woman’s Weekly was first published in 1932 with 7000 copies and its publisher said it was hoping to offer “usefulness, cheerfulness and happiness” to readers in the Depression.
The New Zealand Listener was launched seven years later in 1939, as the journal of the National Broadcasting Service.
With the introduction of television in June 1960, the Listener started publishing weekly TV listings, along with topical articles, editorials, letters to the editor and reviews. Its publicity material says it is at “forefront of the issues that matter”.
Area Media in New Zealand also publishes Your Home and Garden and the Air New Zealand in-flight magazine Kia Ora.
