NatMags buys out ACP from UK joint venture

by Daniel Farey-Jones, Brand Republic 05-Mar-08, 16:25

LONDON - The National Magazine Company is taking full ownership of women's weeklies Best, Reveal and Real People as its joint venture partner ACP exits the UK.

Australian publisher ACP is leaving the ACP-Natmag joint venture after three years, and Colin Morrison, ACP-Natmag chief executive, is leaving the business.

ACP-Natmag was set up to house Best, previously owned by ACP, and launch new weeklies, celebrity magazine Reveal and real-life title Real People.

The weeklies now join NatMags' stable of monthly titles such as Esquire under the management of Duncan Edwards, chief executive, and Jessica Burley, managing director.

Edwards said: "We have been very pleased with our expanded footprint in the weekly magazine market through our partnership with ACP and with the progress that our titles have made over the last three years.

"When ACP indicated that it would like to sell its interest in the joint venture to concentrate on its rapidly growing business in Australasia, we were very happy to acquire its 50% interest. Hearst, our parent company, continues to enjoy an excellent relationship with ACP through its joint venture in Australasia which publishes Cosmopolitan, Harper's Bazaar and Madison.

"Colin Morrison has done an excellent job as chief executive of the joint venture since it was formed in 2004 and I would like to thank him for all his hard work and wish him all the best for the future."