Australia’s Mercury Capital to acquire Bauer Media’s publishing biz

Sydney, Australia. Photo: Unsplash

Australia-based private equity firm Mercury Capital will be acquiring Bauer Media’s publishing business.

The acquisition includes Bauer Media Australia’s print and digital assets which cover Women’s Entertainment & Lifestyle; Fashion, Beauty & Health; Homes; Food; Motoring & Trader lifestyle categories, Bauer Media said in a statement on Wednesday.

The agreement also includes those brands recently acquired by Bauer from Pacific Magazines and Bauer’s New Zealand mastheads, the Germany-based media group said. 

“Bauer Media remains committed to magazine publishing. This decision supports our strategy to invest in our market-leading brands where we believe we are best placed to do so.”

“We have been proud to be the custodian of these iconic brands in Australia. I would like to thank our talented teams for their commitment and the contribution they have made to Bauer Media. I wish them well for the future,” Bauer Media chief operating officer Veit Dengler said.

The sale is subject to relevant regulatory approvals in Australia, with completion expected by the end of July.

Transaction details have not been disclosed but it was learnt that the price tag is likely to be substantially lower than A$512 million that Bauer paid to purchase the business in 2012, according to several media reports. Mercury Capital has yet to respond to DealStreetAsia’s query at press time. 

The deal came at a time as the COVID-19 pandemic hit Australia’s media business hard, with several regional outlets reporting steep declines in advertising revenue, according to Reuters.

Bauer’s expanded portfolio of 43 brands now reaches six in ten Australian women each month; more than 6.5 million women each month across magazines, websites, video, social, customer review sites, podcasts and experiences; a print readership of 6.8 million per year and social connections of more than 30.5 million.

Bauer Media Group is a privately-owned media group based in Hamburg, Germany. The group publishes more than 600 magazines, 400-plus digital products and owns 50 radio and TV stations reaching millions around the world. Its business portfolio also includes printing companies, postal services, distribution services, marketing and media sales.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.