Time is right for Pacific to purchase four more magazines

Under the agreement, Pacific Magazines, part of Seven Media Group, has acquired Who, Practical Parenting and Bride To Be and entered into a long-term license agreement with Time Inc for the publication of InStyle in Australia and New Zealand. Who will continue to access editorial from People magazine in the United States under a long-term license agreement.

"We are acquiring a quality business, market-leading magazine brands and great people," said Nick Chan, CEO of Pacific.

"We look forward to continuing to build our new titles under their current successful editorial, sales and marketing teams. The integration of the magazine operations will provide the foundations for Pacific to deliver stronger revenue shares and profitability over the coming twelve months."

David Leckie, CEO of Seven Media Group also welcomed the addition of the four magazines. "This is a terrific development for our company," he said.

"We are a company that is about building our leadership in television, magazines and online. We are about connecting with our audiences and creating, building and developing great brands. On those measures alone, the agreement with Time hits those benchmarks."

Got a view on this story? Drop us a line and let us know