Emap Off-Loads Aussie Magazines Division To ACP For £38 Million

Emap is selling its Australian consumer magazines business, Emap Australia, to ACP Magazines for AUS $94 million (£38 million) in cash as part of the strategic review that will likely lead to Emap selling off parts of its business. Online, Emap Australia publishes the Down Under equivalents of Britain’s Zoo Weekly, Mother and Baby, Empire Online, FHM.com and New Woman, as well as ABDMag.com.au, LittleKids.com.au, ShoppingForBaby.com.au and Tracks.com.au. In its announcement, Emap said it would continue to benefit from license revenues from the Aussie editions of Zoo, FHM, Empire, Mother & Baby and Pregnancy & Birth. The business made a AUS $2 million profit last financial year.