Haymarket snaps up BBC's 'eve' magazine
Wednesday 12 January 2005
Lord Heseltine's Haymarket publishing business plans to become a major player in the glossy women's magazines market with the acquisition of
Lord Heseltine's Haymarket publishing business plans to become a major player in the glossy women's magazines market with the acquisition of eve yesterday.
BBC Worldwide, the corporation's commercial arm, said it sold eve, launched in 2001, to Haymarket, for an undisclosed sum. The BBC was forced to put the women's monthly up for sale after a review of its commercial activities.
Lord Heseltine, the Tory grandee and the chairman and owner of Haymarket, said eve represented a rare opportunity to pick up an established title in the women's market - a sector the company had not entered.
He said he was undaunted by the fierce competition in the women's genre. "The women's market is crowded because it's the biggest. We've always been tempted to look at the biggest market of all," he said.
With the eve deal comes the magazine's staff, led by its publishing director Jo Morrell. Eve, which has a monthly circulation of 150,000, is aimed at 25- to 35-year-olds.
Some 40 per cent of Haymarket's revenues come from consumer publications, with a major slice of the car market, including the Autocar title.
The BBC also plans to sell its Origin arm, which publishes specialist consumer magazines, such as Cross Stitch Crazy and Hair Ideas.
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