Hearst Corporation, owner of the UK’s third largest magazine publisher The National Magazine Company, has made a £:700 million indicative offer for Emap’s consumer magazine division.
Emap is the second largest magazine publisher behind IPC Media, with a range of magazines including women’s weeklies
Grazia and
Closer and men’s monthly
Arena.
Emap recently sold its Australian magazines business to ACP Magazines – an equal partner with NatMags in ACP-NatMag – for £38 million (see Emap Sells Australian Magazine Business).
Around 30 companies are thought to have shown interest in either Emap’s consumer magazines, business-to-business or radio divisions, although it is believed that the consumer magazine business has attracted the least attention.
Indicative bids for Emap’s three divisions were due in last week.
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