Italy’s Mondadori and Lagardère of France have both expressed interest in Emap’s consumer arm, according to the Times (though Mondadori has since denied it in the Liverpool Daily Post).
Such a sale would put the bulk of UK magazines in foreign hands. As Magforum points out, IPC (the biggest publisher in the UK), Conde Nast, National Magazines, HFUK, APC-NatMags, Rodale, Reader’s Digest, News Magazines and Bauer are all foreign-owned groups. If Mondadori gets Emap, 7 of the top 10 UK titles would be ultimately controlled overseas (5 already are). In the consumer marketplace, the biggest UK-controlled publishers would be BBC Magazines (a TV offshoot), Future and Northern & Shell.
However, Emap falling to Mondadori or Lagardère makes sense because both know Britain’s second-largest magazine publisher well. Emap’s Grazia - one of the most brilliant recent launches - is licensed from the Italian magazine publisher, which bought Emap’s French division last year. Also, Silvio Berlusconi, the former Italian prime minister who controls Mondadori, has experience in buying English companies that goes back quite a way. Twenty years ago, he ran Olivetti, which bought BBC computer maker Acorn.
Lagardère ’s UK offshoot, HFUK, is run by Kevin Hand, the former Emap chief who lost his job over Emap’s calamitous attempt to enter the US by buying Petersen. Hands obviously felt hard done-by at the time, but got one back on Emap by taking away Elle (which is ultimately owned by Lagardère) and outbidding Emap for Red.
No doubt, he’d love to get his hands back on a big chunk of Emap.