IPC Media has reported a 37 per cent fall in profits for 2009, as it continues to sell-off its specialist and niche titles.
The UK’s largest magazine publisher reported 2009 pre-tax profits of £49.7m on revenues down 11 per cent to £351m.
Yesterday, IPC announced the sale of Aeroplane, MiniWorld, Ships Monthly and Park Home & Holiday Caravan to Kelsey Publishing which has also bought Cage & Aviary Birds.
Earlier this week, it sold Web User magazine to Dennis Publishing and last week, Guitar & Bass was acquired by Anthem Publishing.
IPC is also in the final stages of a deal with Vitality over the sale of Loaded, SuperBike, Prediction and Hi-Fi News.
Following a strategic review, IPC plans to focus on big mainstream consumer brands such as TV Times, Woman and Marie Claire.