Bauer Media has announced the sale of Money magazine and its associated assets to financial services group Rainmaker. The last issue to be produced by Bauer Media will be the April issue.
Paul Dykzeul, CEO Bauer Media ANZ, commented: “We continue to remain focused on deepening our category specialisation and focusing on our core consumer brands, and as a result, the decision has been made to look for a new home for the magazine, with that being Rainmaker.
“Bauer Media has been the proud publisher of Money magazine for 20 years. Under the leadership of Effie Zahos, it is regarded as one of the most respected finance magazines in Australia with readership figures up 15% year-on-year. I wish the magazine continued success under the management of Rainmaker.”
Effie Zahos will stay at Bauer under a new role of finance editor, commentator & financial literacy campaigner. Dykzeul added: “Effie brings knowledge, experience and passion to this area and so we are delighted that she will remain at Bauer. She will play a key role in working to support our Financially Fit Females initiative and liaising with editors across the Bauer brands.”
Chris Page, managing director Rainmaker group commented: “This acquisition is a milestone moment for our business and we look forward to building on the magazine’s reputation as the most-read personal finance title in Australia.”
The Rainmaker group was founded in 1992 and provides market intelligence, industry research, media and publishing, events and consulting services.
It produces strategic, tactical, and analytical information about the financial services industry predominately for Superannuation Funds, Investment Managers and Financial Planners.
The group comprises Rainmaker Information, Financial Standard, Selecting Super, Select Adviser, FSiTV, CompareOnline and Custom CPD Solutions.