The owner of IPC Media is reviewing the strategic options of the British magazine publisher which could see more magazines sold off, a report has suggested.
Following a review of operations last year, IPC Media sold off 20 magazines to smaller, independent publishing houses and according to a Telegraph report senior IPC and Time Warner executives are taking a further look at IPC’s portfolio.
Sources told The Telegraph:
‘There were no talks yet with interested parties, although the sale of blocks of magazines and individual titles are both being considered.
‘They went on to say that the review could include “all possibilities”, from significant disposals to selling individual titles.”
However, Time Warner moved quickly to dampen expectation. A spokesman said:
“Of course we conduct regular reviews of all of our businesses to ensure we remain competitive, but there is no plan for any further action at IPC.”
The report about possible changes at IPC comes just days after Hearst Corporation made a “binding offer” of â‚¬651m (£560m) to take over the international press and magazine businesses run by LagardÃ¨re, which owns UK publisher Hachette Filipacchi.
The deal will see Hearst, owner of The National Magazine Company, take control of 102 LagardÃ¨re print titles in 15 countries around the world and extensive digital operations, including 50 websites and numerous mobile and tablet apps.
The deal will see Heart take ownership of Woman’s Day, Car and Driver, Road & Track and Cycle World in the US, Red magazine in the UK and Holland and a string of other significant monthly and weekly titles in major markets from the French company.
Significantly, today’s announcement by Hearst confirmed that it would also assume the licensing rights to LagardÃ¨re’s flagship title Elle in the US, Russia & Ukraine, Italy, Spain, the UK, China, Japan, Netherlands, Czech Republic, Hong Kong, Mexico, Taiwan, Canada and Germany.
In addition, publishing rights to the ten editions of Elle spin-off Elle DÃ©cor currently published internationally will also pass to Hearst.