Edwards: dynamic market
New jobs in the consumer weekly magazine sector will be created following a major joint venture agreed between the National Magazines Company and Australian Consolidated Press.
The partnership will prompt a spate of weekly launches and acquisitions throughout the women’s and other sectors. The first of the titles is expected to launch next year.
As part of the venture, which creates London-based company ACP-NatMag, ACP will acquire a 50 per cent interest in NatMag’s 402,000 circulation women’s title Best, which is the only weekly title published by NatMags.
NatMags said there would be no job losses as a result of the partnership.
ACP is a market leader in the women’s, home, motoring and food sectors, with titles including Australia’s biggest selling weekly, Woman’s Day, The Australian Women’s Weekly, TV Week and Australian House & Garden.
Duncan Edwards, managing director of NatMags, told Press Gazette: “APC and NatMags feel the weekly market is one of the most dynamic with the most opportunity for growth.
“We already have a successful joint venture in Australia. We have a very similar view of the world and how magazines should be put together and agree that the best magazines are good editorial magazines based on good journalism.”
Colin Morrison, the former ACP chief executive officer who will be CEO of the new joint venture, added: “Throughout the next few years you can expect to see more weekly launches than any other publishing group in the UK. We only have Best so far but one by one we will be building up our portfolio.”
Jessica Burley, who was previously group publishing director of Natmag’s Women’s Home & Lifestyle Group before becoming a company director, will take up the role of chief operating officer for ACP-NatMag.
The new company is expected to be fully operational by 1 January 2005.
By Sarah Lagan