Bauer magazines such as Metro and NZ Listener offered up to media and investment firms

Monday, 6 April 2020

Former New Zealand magazine publisher Bauer Media has offered some of its former titles up for sale to a collection of media companies and investment firms. 

An apparent email mix up has hinted at who might be interested in taking over some of the country's best-known magazines.

The German company announced last week it was closing its New Zealand business, which employed 237 staff, with immediate effect.

In an email seen by Stuff, eleven magazine titles, plus the website noted.co.nz, were offered for sale individually or as a group. 

**READ MORE:

* Ex-Bauer magazine staff could sue German company after publisher folds, legal experts say

* Bauer offered magazines to Government for a dollar, but says it got no clear response

* Bauer closure: 'We're all in this together' - but some are more in it than others

* Bauer's closure leaves a devastated staff and a cultural gap

* Who is Bauer, the conglomerate shutting Woman's Day, Metro and NZ Listener?**

The titles listed as up for sale were: NZ Woman's Weekly, NEXT, North & South, The Listener, Metro, Taste, FQ, Your Home & Garden, Simply You, Home, Good Health and Wellbeing and the website noted.co.nz.

Notably, Woman's Day, New Zealand's highest-selling magazine, was not listed under 'Mastheads for sale'.

The sale is being handled by consultancy group EY. In an apparent accident, the entire list of companies and individuals who were thought to potentially be interested were copied in on the email. 

It is not known which, if any, of those included have formally expressed interest in the magazines.

'On behalf of Bauer Media (NZ) LP (the 'Vendor'), we would like to thank you for the interest that you have expressed in acquiring the assets (or a selection of assets) of the Vendor and to the extent you haven't formally expressed interest yet the Vendor considers the assets may be of interest to you,' the email said.

'The Vendor has received a relatively high level of interest from a wide range of parties.'

Media companies who received the email included representatives from The Spinoff, Newsroom, Business Desk, National Business Review, and Star Media, which owns several Canterbury community newspapers and magazines including Rugby News and Home & Leisure.

Several smaller magazines were cc'ed into the email, such as MiNDFOOD, Uno, and Remix. Two former Bauer employees were also copied in.

Other high profile businesspeople and investment groups who were sent the email included:

• Sam Morgan, founder of Trade Me.

• Derek Handley, the entrepreneur who nearly became New Zealand's Chief Technology Officer. 

• Claire Murdoch, head of publishing at Penguin Random House.

• Graham Craig, World Rugby hall of fame founder and director of Delta Private Equity.

• Monarch Media, whose chief executive Graham Hislop founded The Rock radio station and RadioWorks.

• Mark Stewart, managing director of Christchurch family investment business Masthead Limited and honorary consul of Malaysia.

Stuff Ltd, which publishes TV Guide, NZ House & Garden, and New Zealand Gardener as well as Stuff, was not among companies who received the email. 

On Friday, a Bauer spokesperson said the company had offered to sell its New Zealand magazine business to the Government for just $1, but never got a clear response.

Stuff has attempted to contact EY for comment.