Metro, North and South sold to Germans as Bauer buys ACP for A$500M

Wed, 05 Sep 2012

By Hannah Lynch Sept. 5 (BusinessDesk) - Metro and North & South, the Auckland-based magazines started in the 1980s, are getting new German owners after Bauer Media Group agreed to buy ACP Magazines from Sydney-based Nine Entertainment for a reported A$500 million. The sale is expected to close in the next four-to-eight weeks. Both parties agreed to keep the purchase price confidential though Reuters is reporting ACP sold for about A$500 million. "The sale provides Nine Entertainment with an attractive all cash valuation and ACP with the b...

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