After six months of negotiations, Universal Magazines (UM) has acquired Westwick-Farrow Media business from founding owners Adrian and Yvonne Farrow.
This is a major development for the local specialist magazine publishing sector. Niether Universal or Westwick-Farrow would comment on the acquisition price.
While the business will retain current staff and operate from the existing Westwick-Farrow media officer in Wharoonga, a new board will be announced, which will affect the structure of the team.
According to Janice Williams, associated publisher for UM, CEO of UM, Prema Perera will be on the board, along with former owner of Westwick-Farrow media, Adrian farrow, who will be a consultant on the board.
Current Associate Publisher Geoff Hird, who has been with Westwick-Farrow for more than 21 years and is Chairman of Publishers Australia, will stay on in his new role as Publisher of the Westwick -Farrow business.
As part of the acquisition, UM will look to enter new and profitable trade markets in Australia, New Zealand and Asia.
The acquisition will see UM become Australia's largest consumer niche and B2B company. It obtains Australia's most successful industrial and technology-focuses print and digital trade publications, including nine regular national titles, related digital editions, 11 websites and an events division.
As part of the acquisition, UM will takes on long-standing mastheads such as What's New in Electronics, What's New in Process Technology, Radio Comms Asia-Pacific and Voice+Data.
According to UM CEO Prema Perera: “We have always been interested in opportunities to advance Universal's position as a dominant media company and today's news represents such an opportunity to expand our presence into new domestic and international trade markets.
“Most importantly, the deal emphasises Universal's commitment to and belief in print as well as digital media, as magazines continue to be profitable tools of communication for advertisers who want to reach engaged and receptive audiences.
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