IPC Media has sold its tenth magazine in little over a fortnight as part of its plan to offload a number of its smaller titles.
The publishing giant confirmed today that it had now sold its Caravan title to Warners Group Publications.
The deal – terms of which were not disclosed – sees Warners acquire the brand with immediate effect.
IPC Media said staff would transfer to the new owner straight away and there would be no interruption to the publishing schedule of the title.
Paul Williams, managing director of IPC’s Inspire portfolio, said: ‘Warners is a publisher with a broad range of outdoor leisure and hobby titles, as well as a leading motorhome show in the outdoor market.
‘It’s the ideal home for Caravan. The Caravan team has continued to do a superb job during the strategic review process, for which I would personally like to thank them. I wish them all the very best for the future.”
This latest sale follows confirmation last week from IPC Media that it had offloaded seven further titles as it looked to streamline its business.
Aeroplane, MiniWorld, Ships Monthly and Park and Holiday Caravan were bought by Kent and Cambridge-based Kelsey Publishing – which the previous week had acquired another IPC title: Cage and Aviary Bird – while Dennis Publishing bought IPC’s Web User magazine.
In addition to these changes, IPC confirmed the sale of Model Collector and Stamp Magazine to MyHobbyStore for an undisclosed fee last week.
Last month, IPC sold its Guitar and Bass magazine to Anthem Publishing.
The numerous sales follow a strategic review of IPC which concluded that it was necessary for the publisher to sell a number of its smaller titles.
The magazine giant is now engaged in talks with several other independent magazine publishers over likely magazine sales.
IPC is advanced talks with Vitality Publishing over the sale of Loaded, Superbike, Prediction and HiFi News magazines and believed to be poised to sell its World Soccer magazine, Racecar Engineering and Classic Boat to The Chelsea Magazine Company.
Last week, IPC reported a 37 per cent fall in profits for 2009. The UK’s largest magazine publisher reported 2009 pre-tax profits of £49.7m on revenues which had fallen 11 per cent to £351m.