Hachette Set To Build Advertising Powerhouse
Hachette, which last month paid £40 million for Attic Futura (see Hachette Buys Attic Futura For £40 Million) is planning to become an increasingly significant UK player by consolidating its advertising operations.
The group is believed to have received the go-ahead to build an advertising sales house in the UK for it’s portfolio of titles. A spokeswoman for Hachette was unable to confirm reports, but said: “There will be a huge amount of restructuring because of the new venture, although all the details are yet to be worked out.”
Gerald de Roquemaurel, chief executive of Hachette, told the Financial Times that it wants control of the Elle titles, which were part of Hachette’s joint venture with Emap, in order to sell advertisers access to a world-wide audience and exploit scale in buying editorial rights and consolidating costs.
It is also reported that Hachette will be increasing it’s investment in its UK titles and teen magazine Elle Girl, which launched last year, is set to be published more regularly, after it’s initial launch was blighted by disagreements between Emap and Hachette over investment.
It is understood that Kevin Hand, Hachette’s UK chairman, and previous chief executive of Emap is aiming to make Hachette the third biggest magazine house in the UK. In today’s Financial Times Hand said: “I think Hachette has the resources if the opportunities are there- both for acquisitions and joint ventures and launches.”
According to Hachette, it’s acquisition of Attic Futura “represents [its] determination to reinforce [its] position in the UK, one of Europe’s most dynamic markets, especially in the teen and entertainment market segments.”
Last month Hachette, which is part of the Lagardere group, announced an end to its joint ventures with Emap. The split will see Hachette keep it’s trademark Elle brand which includes Elle Decoration and Elle Girl. However, the future of Red magazine is still hanging in the balance (see Red’s Future Uncertain After Emap And Hachette Split). There have been no further comments from either Emap or Hachette, but those close to the situation believe Emap will pay to hold onto the title, which saw circulation increase 7.7%, during January to June 2002 to 186,023.
Hachette Filipacchi www.hachette-filipacchi.com Emap: 01733 568 900 www.emap.co.uk
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