Mercury Capital has bought Bauer Media Australia

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Private equity firm Marcury Capital has acquired massive magazine publisher Bauer Media Australia in a deal reportedly being for “less than $50m”.

The comments about the size of the deal were made in the Australian Financial Review, speculations which the company declined to comment on to Yahoo! Finance.

Baur Media Australia is one of the country’s biggest publishers and owns titles such as TV Week, Elle, Gourmet Traveller, Better Homes and Gardens, Empire and OK!. The sale included 43 brands.

The new owners will reportedly take a few months now to understand the company and its opportunities in order to better develop its strategy going forward. It will also announce a new brand for the company in the upcoming months.

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