SYDNEY, Wednesday: Headline in Mumbrella: Good riddance to the Bauers, the family that wrecked Australia’s magazine industry.
Bauer Media has followed up on its mangline of the NZ magazine industry – by closing eight of the most famous magazines in Australia.
Mumbrella’s Tim Burrowes wrote: “It says a lot about how far – and how fast – the Australian magazine industry has fallen that when Bauer’s press release arrived on Tuesday morning, it didn’t come as a surprise.
“With the titles already suspended, there will be no final ‘goodbye’ editions to readers.
“But it will hopefully be the last piece of bad news we hear before the name Bauer disappears from the Australian media industry as the company rebrands in Australia and starts again under its new ownership.
“Next on the list – take down the Bauer sign from the offices in Park St, Sydney. The name is tainted.”
“And it seems fitting that the end should have come in as classless a way as possible, as that sums up the last eight years of Bauer family proprietorship.
“When the Covid emergency led Bauer to suspend the magazine titles back in April, around 70 staff were made redundant and a similar number stood down.
“At the time, few believed that the titles would come back, and others suspected the reason for suspending rather than closing was a cynical one.
“Now though, the Bauer family has left the building. The company is now in the hands of private equity firm Mercury Capital.
“Next on the list – take down the Bauer sign from the offices in Park Street, Sydney. The name is tainted.”
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