Emap Australia has been sold to ACP Magazines for almost £40 million. The sale of the consumer magazine business follows the completion of the strategic review of its Australian consumer magazines business which commenced in May.
Following the sale, Emap will continue to benefit from licence revenues from the Australian editions of ZOO, FHM, Empire, Mother & Baby and Pregnancy & Birth.
Commenting on the sale, Paul Keenan, Chief Executive of Emap Consumer Media, said: "Over the last ten years, and through a total launch and acquisition investment of some A$29m, we have grown Emap Australia into a leading player in its market. The outcome of this transaction reflects the quality of the brands and activities we have built in Australia and the depth of creative talent we have developed there. We look forward to a long term partnership with ACP Magazines on these titles and future publishing initiatives."
The UK radio industry are still awaiting news of who will buy Emap 's radio stations.
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