IPC Media has confirmed the sale of two further magazines as the number of niche titles it had sold in the last fortnight climbs to nine.
The publishing giant has completed the sale of Model Collector and Stamp Magazine to MyHobbyStore for an undisclosed fee.
MyHobbyStore’s acquisition takes place with immediate effect, IPC Media said, with staff transferring to the new owner so there would be no interruption to the publishing schedule of either title.
Owen Davies, MyHobbyStore chief executive, said: “Stamp and Model Collector are wonderful additions to our growing portfolio of special interest hobby magazines.
“Our plan is to grow these sectors by developing online communities and e-commerce opportunities on our leading edge technology platform.”
This latest sale follows confirmation last week from IPC Media that it had offloaded five 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, late 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.
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