Pacific Star Network Limited (PNW), which recently bought Inside Football Magazine and broadcasts 24-hour sports radio news, has bought Morrison Media and the intellectual property rights to award winning fashion, craft, art and food magazine Frankie – as well as the Smith Journal, Surfing Life, Slow Living and White Horses publications.
Frankie, which is a bi-monthly women's magazine, has scooped winner of the Australian Magazine Awards two years running, in 2012 and 2013. The magazine, which is available in the UK via limited outlets and is in the midst of an international expansion push, has nearly 300,00 Facebook likes and more than 73,000 Twitter followers. It also launched an app for the magazine in 2013.
Its Australia circulation has grown to 67,782 (ABC ANPPS January to June 2014), and to 8,133 in New Zealand, for the same period.
The $10.8 million deal is part of PNW's strategy to broaden its activity and diversify its portfolio beyond broadcasting and sport.
PNW believes there is a gap between small independent content businesses and large media groups ands it aims to fill this gap by “investing in innovative media brands and content driven bushinesses”.
Keep an eye on AdNews this morning for more on this.
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