Herbert Smith Freehills has advised Pacific Magazines, part of the Seven West Media Group, on the sale of its magazine business to Bauer Media.
Pacific Magazines sold its magazine business to Bauer Media for A$40 million cash consideration, pre-adjustments and leave provisions. SWM and Bauer Media have also entered into commercial arrangements to mutually benefit both parties, including advertising spend commitments, the ongoing production of the Better Homes and Gardens television program, and the sharing of lifestyle content. The transaction completed on 1 May 2020. SWM will also receive A$6.6 million in advertising on Bauer Media publications over three years.
Pacific Magazines produces a number of well-known magazines including Better Homes & Gardens, Marie Claire, Australian Home Beautiful, Men’s Health, Women’s Health, WHO, and New Idea.
The Herbert Smith Freehills team was led by partners Kristin Stammer (Picture), Rebecca Maslen-Stannage, and Malika Chandrasegaran, and senior associate Mia Harrison-Kelf. The team was supported by special counsel Amalia Stone who advised on intellectual property, senior associate Kirk Boladeras who assisted on transitional services arrangements, and partner Leon Chung.
Clayton Utz advised Seven West Media on the competition law aspects and ACCC approval for the transaction. Clayton Utz’s team was led by Linda Evans, Stephanie Panayi and Carolyn Harris.
Minter Ellison advised Bauer Media on the acquisition, and Johnson Winter Slattery advised Bauer Media on competition law aspects.
Involved fees earner: Kirk Boladeras – Herbert Smith Freehills; Malika Chandrasegaran – Herbert Smith Freehills; Leon Chung – Herbert Smith Freehills; Mia Harrison-Kelf – Herbert Smith Freehills; Rebecca Maslen-Stannage – Herbert Smith Freehills; Kristin Stammer – Herbert Smith Freehills; Amalia Stone – Herbert Smith Freehills;
Law Firms: Herbert Smith Freehills;
Clients: Pacific Magazines;