James Brown acquires Viz and Bizarre for IFG

finance director Tom Gleeson is to become managing director of IFG.

The three magazines generated turnover of pounds 6m last year and an

operating profit of pounds 1m. The deal hugely increases the size of

IFG, which currently publishes Hotdog and the official Leeds United

Football Club magazine.

The acquisition is to be paid for with a rights issue expected to raise

pounds 7.4m, with the pounds 1m surplus earmarked for future

expansion.

IFG confirmed its intention to launch a men's magazine towards the end

of this year.

Former Loaded and GQ editor James Brown described Viz as his favourite

magazine of all time. Its circulation has slipped from its 80s high of

1.1 million to just over 200,000, but Brown intends to implement new

publishing strategies to increase sales.

"Viz is still very funny and is avidly read by all today's top

comedians - Frank Skinner, Steve Coogan, Vic Reeves, Jonathan Ross. We

need to push it back into the consciousness and generate word-of-mouth

interest again."

Before starting IFG, Brown was engaged as a consultant to Viz for a

period and claims to have raised sales by 15 per cent year on year.

Brown said he was keen to put some of his own input into Bizarre -

"which is in my area" - and said he was a Fortean Times subscriber.

He intends to exact more revenue from further exploiting the three

brands.

It is rumoured that Film Four has bought the rights to produce a film

based on the Viz characters the Fat Slags.

JBP chairman John Brown revealed that the deal was first mooted six

months ago, when he had discussions with IFG chairman Felix Dennis over

joint plans for a boys' magazine. He said the sales was in the best

interests of the magazines.

"We have been focusing on building our contract publishing business and

haven't been able to devote the attention that these magazines deserve,"

he added.