Inside Mail and now Mediaweek report that Are Media is for sale.
In a statement provided to Mediaweek, an Are Media spokesperson said: “Further to recent speculation, and on the back of a number of market enquiries and approaches, we can confirm that a decision has been made to commence a sale process for Are Media, Australia’s leading omnichannel content company for women. KPMG Corporate Finance has been engaged to run a formal sale process.”
Mercury Capital, led by venture capitalist Clark Perkins, acquired the local arm of Bauer Media for an estimated $40–50 million in 2020.
That deal came just eight years after Bauer had paid $525 million for ACP Magazines, once the crown jewel of Australia’s consumer publishing sector.
Are Media’s portfolio includes The Australian Women’s Weekly, Woman’s Day, New Idea, TV Week, Who, and Take 5.