By Ali Lyon,Michael Hesteltine
Copyright cityam
A magazine group founded by Michael Hesteltine has snapped up a trio of marketing titles from Aim-listed Centaur Media, bolstering its portfolio of advertising and communications outlets.
Haymarket, which owns over 70 specialist magazines including the likes of Autocar, Campaign and Management Today, revealed it had acquired Marketing Week, Creative Review and Festival of Marketing for an undisclosed amount on Thursday.
The triumvirate of outlets will sit in Haymarket’s Business Media division, the publisher confirmed, joining the likes of PR Week, Campaign and Performance Marketing World before the group eventually merges the three new titles under one banner.
The publisher hailed its acquisition of the magazines, which are three of the marketing industry’s largest and most read trade publications, as reflective of its “strengthened, market-leading position” in the sector.
Claire Rance, the managing director of all three of the ex-Centaur outlets, said: “This acquisition represents an exciting opportunity to combine the strengths of our joint businesses across the marcomms industry.
“Together, I hope to enhance the offering of these heritage brands, broaden their impact, and continue delivering exceptional content and lasting value to our audiences.”
The acquisition is further evidence of an impressive turnaround at the 68-year-old publisher, which has seen it recover from being one of the most indebted media companies in the UK to post profit of as much as £15m in its last financial year.
The publisher was co-founded by former deputy Prime Minister Lord Heseltine in 1957 and has gone on to become one of the largest UK’s largest specialist media owners in the UK. Hesteltine remained its chairman until 2022, when the Tory grandee’s son Rupert took over.
The deal is also Centaur’s second major sale in as many weeks, with the Aim-listed publisher having also offloaded its flagship legal trade magazine, The Lawyer, to Legal Benchmarking in a sale worth a reported £43m.
Centaur has suggested it will share the returns from both sales with investors as it battles to boost shareholder value.
Kevin Costello, Haymarket’s chief executive, said: “I am delighted to welcome Marketing Week, Creative Review, and Festival of Marketing into our portfolio.
“These highly respected brands provide market-leading insights and analysis for their communities and align perfectly with our commitment to serving specialist audiences globally. Our combined skills and influence in the sector makes for a very exciting future working together.”
