ACP Magazines, Australia's largest magazine publisher, and Βι¶ΉΤΌΕΔ Magazines, the 3rd-largest consumer magazine publisher in the UK, today announced a 50/50 joint venture in the Australian market. The new company will operate from ACP Magazines' Sydney office.
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The two companies will collaborate to develop and publish titles from Βι¶ΉΤΌΕΔ Magazines' wide-ranging portfolio, including lifestyle, children's and special interest magazines.
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The first magazine to launch under the new publishing partnership will be the much anticipated Australian edition of Top Gear, in mid 2008.
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Top Gear is already the world's number one motoring media brand, with television audiences in more than 120 countries, and more than 20 international versions of the magazine in 40 territories.
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The partnership will operate in the same way as ACP Magazines' long running joint venture with Hearst magazines in Australia which publishes Cosmopolitan, Harper's Bazaar and Madison.
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The new company plans a second major launch before the end of 2008.
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Peter Phippen, Managing Director, Βι¶ΉΤΌΕΔ Magazines said: "I'm delighted to announce this deal with ACP Magazines. Top Gear is already a hugely successful international brand and this new joint venture will enable Βι¶ΉΤΌΕΔ Magazines to explore the full potential of other key Βι¶ΉΤΌΕΔ properties in what is a rapidly-growing market for us."
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Scott Lorson, Chief Executive Officer, ACP Magazines, said: "This move brings together two world leading publishing houses, combining Βι¶ΉΤΌΕΔ's rich portfolio of magazine titles with ACP's local market knowledge and strong publishing culture.
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"We are extremely pleased to be working in partnership with the Βι¶ΉΤΌΕΔ, and look forward to jointly delivering Australian consumers an exciting range of new and compelling titles including Top Gear magazine."
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The company will be managed by a board comprising representatives from Βι¶ΉΤΌΕΔ Worldwide and ACP Magazines.
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Phil Scott, Group Publisher Men's & Specialist Titles - ACP Magazines, will take on the additional role of General Manager of the joint venture and will run the day to day management of the company.
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Notes to editors:
About Βι¶ΉΤΌΕΔ Magazines
- Βι¶ΉΤΌΕΔ Magazines is the publishing arm of Βι¶ΉΤΌΕΔ Worldwide. It is the UK's third largest publisher and has a portfolio of over 50 regular titles, including Top Gear, Good Food, Gardeners' World, Good Βι¶ΉΤΌΕΔs, Radio Times and 21 children's titles.
- Internationally, Βι¶ΉΤΌΕΔ Magazines licenses 45 titles to publishers in over 57 territories.
- Βι¶ΉΤΌΕΔ Worldwide identified Australia as a key territory for global investment in 2007, as part of its strategy to drive international growth. This publishing joint venture follows a number of deals concluded by Βι¶ΉΤΌΕΔ Worldwide over the past year: the acquisition of travel information group Lonely Planet; a 25% stake in Australian production company Freehand; the first international version of Top Gear and the announcement of an HD Channel to launch later this year.
- In 2004, Βι¶ΉΤΌΕΔ Magazines entered into a joint venture with The Times of India to create Worldwide Media, India's largest magazine company.Μύ
- The first international version of Top Gear magazine launched in the Middle East in 1998. There are now editions in 22 countries including Russia, Italy, China, India, Greece and the Netherlands.
- Βι¶ΉΤΌΕΔ Worldwide Limited is the main commercial arm and a wholly owned subsidiary of the British Broadcasting Corporation (Βι¶ΉΤΌΕΔ). The company exists to maximise the value of the Βι¶ΉΤΌΕΔ’s assets for the benefit of the licence payer and invest in public service programming in return for rights. The company has seven operating businesses: Global Channels, Global TV Sales, Magazines, Content & Production, Βι¶ΉΤΌΕΔ Entertainment, Digital Media and the travel information group Lonely Planet. In 2006/07 Βι¶ΉΤΌΕΔ Worldwide generated profits of Β£111 million on sales of Β£810 million.
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About ACP Magazines
- ACP Magazines is Australia's leading magazine publisher. The company is the magazine arm of leading Australian media and entertainment company, PBL Media. ACP Magazines publishes over 85 titles in Australia which sell nearly 114 million individual copies each year. They include some of the longest-running and most successful titles: The Australian Women's Weekly, Woman’s Day, Dolly, NW, TV Week, Cleo, Cosmopolitan, Madison, Australian House & Garden, Zoo Weekly.
- ACP Magazines has expanded into nine other countries, including New Zealand and countries in Asia. It now has a stable of more than 70 international magazines. Integral to the company's success are vibrant, information-packed reader websites.
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Sarah Williams / Michaela O’Farrall
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