GMG acquires stake in Word publisher Development Hell

by Jules Grant,, Brand Republic 15-Jul-04, 11:00

LONDON - Guardian Media Group has bought a 14% stake in Development Hell, publisher of the music and entertainment magazine Word, to support the company's growth in the consumer market.

The move follows the 27% stake GMG acquired in Seven Publishing, which owns Delicious magazine, in March. It is now one of the largest shareholders in the company.

Development Hell was established in 2002 by two former Emap executives David Hepworth and Jerry Perkins. Between them, they have more than 35 years of publishing experience and have been behind the launches of Q, Empire, Mojo and Heat.

Word magazine was the first launch for the company and has quickly built a niche in the music magazine sector, earning a reputation for the quality of its writing. It recieves its first ABC circulation certificate next month.

Publisher Perkins said: "GMG is the ideal trade investor for a company like Development Hell. It is a diverse media group and understands the importance of building quality brands. It also provides an almost perfect route to market for Word and any other future launches wishing to target upmarket, educated men and women."

GMG publishes The Guardian, The Observer and The Manchester News, owns Trader Media Group and also owns five radio stations under the Real Radio, Jazz FM and Smooth FM brands.

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