Publisher of The Week, Dennis Publishing, has bought financial magazine MoneyWeek.
Like The Week, MoneyWeek has enjoyed years of circulation growth.
In the second half of 2016 MoneyWeek grew 2.1 per cent to 46,498. The Week grew 1 per cent to 206,251.
Founded by The Week creator, Jolyon Connell and editor-in-chief Merryn Somerset Webb, MoneyWeek was launched in 2000. It has been produced by Agora Publishing since 2003.
Dennis chief executive James Tye said: “MoneyWeek is a perfect addition to the growing Dennis Current Affairs portfolio.
“MoneyWeek already shares some of The Week’s editorial DNA, so it will be a perfect companion to other titles in the portfolio and greatly increase our opportunities in the key financial services market. With such a natural fit between the titles, there will be many ways in which we can cross promote MoneyWeek to both readers and advertisers.
“Dennis is committed to growing our four areas of excellence through launch, investment and acquisition. We acquire brands with a view to invest and grow their reach, which is exactly what we plan to do with MoneyWeek.”
Somerset Webb and editor John Stepek, will continue to edit the title under Dennis.
The team will transfer to Dennis’ new central London offices in Alfred Place over the coming weeks.
Since the death if Felix Dennis in 2014, Dennis Publishing has been owned by the Heart of England Forest. Its profits help support a charity whose purpose is “the plantation, re-plantation, conservation and establishment of trees for the benefit of the public, together with the education of the public by the promulgation of knowledge and the appreciation of trees”.