Scottish lifestyle magazine Caledonia has been put up for sale.
Philip Healey, chairman and sole shareholder of Caledonia owner, Scott House Publishing, says he is open to offers for both the company and the magazine.
The Caledonia management team is also considering attempting a buyout.
Healey has a number of other business interests, including a stake in Firm Publications and a portfolio of property titles. However, he says that, due to ill health, he is unable to take the magazine to the next stage of its development.
He has retained the Edinburgh branch of accountancy firm Scott Moncrieff to handle offers.
Healey said owning Caledonia would benefit both large and small publishers.
“Ownership of Caledonia magazine would be beneficial to various different organisations. It would lend credibility and status to a company with an established portfolio of magazines, for example, or would provide an excellent flagship title for a smaller publisher,” he added.
Healey said Caledonia magazine had attained its marketing objectives with sales of 27,000 and attracted over £500,000 of advertising revenue in its fourth year. It is also expected to report a profit for 2004.
“We believe that this is the highest advertising income on a monthly title in Scotland,” he said.
Scott House Publishing also owns a contract publishing business, which includes the magazine for the National Trust for Scotland.
By Ruth Addicott