KWM advises on media acquisition for Mercury Capital

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King & Wood Mallesons (KWM) is advising Mercury Capital (Mercury) on the acquisition of some of Australia's most well-known magazine titles.

The purchase of Bauer Media Group's Australian and New Zealand business by Mercury was announced today, and will see Mercury own and operate Woman's Day, the Australian Women's Weekly and Gourmet Traveller, among other titles. Also included in the acquisition is the Pacific Magazines business, which Bauer took ownership of in May 2020.

The KWM team leading the transaction comprised Partner Jason Watts, Senior Associate Shabarika Ajitkumar and Solicitor Georgia Feltis from the M&A team and Senior Associate Greg Protektor from the tax team. Simpson Grierson advised Mercury on New Zealand matters.

Commenting on the transaction, Jason Watts said: "We are delighted to have advised Mercury on its significant investment into Australian print and digital media and look forward to seeing the business evolve under the management of the highly-respected Mercury team."

The acquisition will add to Mercury's existing three portfolio companies in its current fund.