Bauer Media buys Seven West Media, and Australian Marketing Magazine closes its print operations. See what’s been happening in our international view.
Marketing Magazine Australia closes print production
In a huge loss for the print industry, Marketing magazine Australia has officially stopped its print cycle, moving towards digital exclusively.
Ben Ice, the editor of Marketing magazine, says that the changing landscape made the financial viability of print not possible for them. Ice said in the release that the news has come with a heavy heart.
“We wanted to bring you physical issues long into the future, but unfortunately it was no longer a realistic option. Looking after you is a top priority, and continuing to deliver top-quality insight and content is the next step.”
The magazine will now focus on its digital offering, bringing the best of Australian marketing news to the digital consumer.
The magazine itself had been running since 1994.
Twitter bans all political advertising
Going against the steps of its rival Facebook, Twitter has put a ban on all political advertising.
“While internet advertising is incredibly powerful and very effective for commercial advertisers, that power brings significant risks to politics,” company CEO Jack Dorsey tweeted.
The ban will be enforced from 22 November, with full details released by 15 November.
Bauer buys Seven West Media
Bauer Media Group has spent $40 million in an agreement to purchase Seven West Media. The proceeds of the sale are set to pay down SWM’s debt, as the company posted a $444.4 million loss to the Australian stock market this August.
Seven West is one of the country’s leading integrated media companies, with a presence in television, newspaper publishing and online. The network also includes well-respected brands such as My Kitchen Rules, House Rules, Home and Away, Sunrise, the Australian Football League, Cricket Australia, the Olympic Games, Better Homes and Gardens, Marie Claire, Who, PerthNow, racing.com and 7plus.
The deal is set to be completed at the end of the year, with SWM also receiving A$6.6 million of advertising on Bauer Media assets over three years.