Desmond puts magazines up for sale

Richard Desmond, the founder and owner of Northern & Shell, has put its magazine titles up for sale, including his flagship celebrity-led monthly OK! Magazine.

  • ok-russia.jpg

    ok-russia.jpg

  • hrithik-roshan--OK-India.jpg

    hrithik-roshan--OK-India.jpg

  • OK-malaysia.jpg

    OK-malaysia.jpg

  • okuk.jpg

    okuk.jpg

  • US-ok.jpg

    US-ok.jpg

  • ok-mexico.jpg

    ok-mexico.jpg

  • ok-germany.jpg

    ok-germany.jpg

  • ok-australia.jpg

    ok-australia.jpg

of

Media Week can reveal that Desmond has employed investment bank Barclays Capital to oversee the sale of Northern & Shell's magazine titles, in the UK and overseas.

A confidential Barclays Capital presentation details the proposed sale of the UK and all international editions of OK!, as well as UK publications Star and New! magazine.

It reveals that OK! Magazine in the UK made a profit of around £20m last year.

In the latest set of six-monthly magazine circulation figures from ABC, OK! magazine's circulation was down 23.4% year on year to 450,946 in a quiet period for big celebrity stories.

OK! is published, under licence in some cases, in 21 countries including India, Spain, Russia, Turkey and the US.

It is thought that Desmond is trying to sell the US edition of OK! separately from the other editions. The US edition of OK!, which launched in 2005, is thought to be heavily loss-making.

Star's circulation was down 12.5% year on year to 430,324 copies and New!'s was down 6.4% year on year to 562,284 copies.

Disposals would transform Desmond's media empire for the second time within a year after he spent £103.5m on buying commercial TV broadcaster Five in July.

Desmond was unavailable for comment.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Share
Bauer launches daily football stats email The Equaliser

Bauer launches daily football stats email The Equaliser

Bauer Media has launched The Equaliser, a football-based daily email combining sports statistics and analysis, targeting desktop and mobile users.

Share
Mediacom takes over first ad break in ITV's Good Morning Britain

Mediacom takes over first ad break in ITV's Good Morning Britain

Mediacom has struck a deal with ITV to fill the first ad break of the channel's new breakfast show, 'Good Morning Britain', with spots for its clients.

Share

Get news by email