Are Media, the publisher of some of Australia’s best-known magazine brands, has formally confirmed it is for sale.
The decision comes five years after private equity firm Mercury Capital acquired the business, then known as Bauer Media Australia, in mid-2020.
Sale process to be led by KPMG
In a statement provided to Mediaweek, an Are Media spokesperson said: “Further to recent speculation, and on the back of a number of market enquiries and approaches, we can confirm that a decision has been made to commence a sale process for Are Media, Australia’s leading omnichannel content company for women. KPMG Corporate Finance has been engaged to run a formal sale process.”
Mercury Capital, led by venture capitalist Clark Perkins, acquired the local arm of Bauer Media for an estimated $40–50 million in 2020.
That deal came just eight years after Bauer had paid $525 million for ACP Magazines, once the crown jewel of Australia’s consumer publishing sector.
BAU for staff and clients
In an email to staff sent Tuesday afternoon and sighted by Mediaweek, Are Media CEO Jane Huxley addressed the development describing the decision as a strategic and confident step forward.
“After careful consideration, Mercury and our Board have decided it’s time to begin the process of finding a new owner for the Are Media Group. This decision comes from a place of strength and optimism,” Huxley wrote. “We’ve built incredibly strong foundations, and now it’s time to take the next step.”
She reassured staff that the day-to-day operations of the business would not be impacted in the near term:
“Nothing changes day to day. Our teams, priorities, your roles, and goals stay the same. We’ll keep delivering great content, driving results, and doing what we do best. We are committed to delivering 2025 and will be planning for 2026 the same way we always have.”
She added, “We’re excited about what’s next. With the right new owner, we believe Are Media can grow even stronger and continue to lead women’s media in Australia and New Zealand.”
Huxley told staff that KPMG will lead the sale process over the coming months and that updates will be provided as the situation develops. For now, she emphasised continuity: “Our focus remains on delivering great work for our clients, our customers and each other.”
Are Media CEO Jane Huxley
Staff left shocked
A source told Mediaweek that reaction to the sale has been met with disbelief, with one employee saying they felt “just shock, really,” adding that while the company has weathered several major changes in recent years, the sale still landed heavily.
“Some of us panicked, others were just confused,” they said. “Obviously some of us lived through this before and these things mean job losses and lots of cost-cutting so that’s the main concern here, but that hasn’t been mentioned so far – that’s all anyone’s really talking about. It’s a bad time to be looking for a new job, for sure.”
Despite the uncertainty, the same staff member said there was cautious hope that the sale process wouldn’t disrupt day-to-day operations. “Nothing feels different today, so hopefully everything will be business as usual and the sale won’t affect us.”
Digital ambitions and Dotdash Meredith partnership
The sale process comes just months after Are Media announced a strategic partnership with US publishing group Dotdash Meredith, which Huxley described to Mediaweek as a “transformational moment” for the business. DDM’s portfolio includes PEOPLE, Better Homes & Gardens, Allrecipes, and Investopedia.
The deal, which sees Are Media act as the exclusive commercial partner for DDM’s digital content in Australia, is designed to significantly expand its online reach and advertiser offering. Are Media says the partnership has effectively doubled its digital footprint to 10.4 million monthly users*, with a print readership of 6 million**.
“Scale, scale, scale,” Huxley told Mediaweek at the time. “What this partnership does for Are Media is give us unprecedented scale in the verticals and audiences that we care about the most.”
Source: *Ipsos iris Online Audience Measurement Service, Mar 2024 to Feb 2025, P14+, combined Are Media
and Dotdash Meredith average audience 10.4 million.
**Roy Morgan Single Source December 2024