Time Inc. UK(Redirected from IPC Media)
Time Inc. UK (formerly International Publishing Corporation and IPC Media), is a consumer magazine and digital publisher in the United Kingdom, with a large portfolio selling over 350 million copies each year. It is owned by a fund affiliated with British private equity firm Epiris.
|Headquarters||London, United Kingdom|
|Marcus Rich (CEO)|
|Parent||Epiris Fund II|
The British magazine publishing industry in the mid-1950s was dominated by a handful of companies, principally the Associated Newspapers (founded by Lord Harmsworth in 1890), Odhams Press Ltd, George Newnes Publishers, C. Arthur Pearson, and the Hulton Press, which fought each other for market share in a highly competitive marketplace.
In 1958 Cecil Harmsworth King, chairman of a newspaper group which included the Daily Mirror and the Sunday Pictorial (now the Sunday Mirror), together with provincial chain West of England Newspapers, made an offer for Amalgamated Press. The offer was accepted, and in January 1959 he was appointed its chairman. Within a few months he changed its name to Fleetway Publications, Ltd. after the name of its headquarters, Fleetway House in London's Farringdon Street.
Shortly thereafter, Odhams Press absorbed both George Newnes and the Hulton Press. King saw an opportunity in this to rationalise the overcrowded women's magazine market, in which Fleetway and Newnes were the major competitors, and made a bid for Odhams on behalf of Fleetway that was too attractive to ignore. Fleetway took over Odhams in March 1961.
International Publishing CorporationEdit
In consequence, King controlled publishing interests which included two national daily and two national Sunday newspapers (the newspaper interests being informally tagged The Mirror Group), along with almost one hundred consumer magazines, more than two hundred trade and technical periodicals, and various book publishing interests. This included the combined business interests of Fleetway, Odhams, and Newnes.
All of the companies involved had been acquired without any significant change in management, save for the appointment of Mirror Group directors as chairmen. In 1963 all the companies were combined by the creation of a parent (or "holding") company called the International Publishing Corporation (known informally as IPC). All of the existing companies would continue to exist, but as IPC subsidiaries.
IPC then set up a management development department in 1965, to rationalise its holdings, so that its various subsidiaries would no longer be in competition with each other for the same markets. This led to a reorganisation of the Group, in 1968, into six divisions:
- IPC Newspapers — including The People and The Sun (soon sold), as well as the Daily Mirror and Sunday Pictorial
- IPC Magazines — consumer magazines and comics
- IPC Trade and Technical — specialist magazines (later known as IPC Business Press Ltd.)
- IPC Books — all book publishing (headed by Paul Hamlyn, whose own company had been acquired by IPC).
- IPC Printing — all non-newspaper printing operations (headed by Arnold Quick, whose own company had also been acquired by IPC).
- IPC New Products — launching pad for products which used new technology (headed by Alistair McIntosh).
All the divisions were headed by chairmen who originated in Mirror Group, except for Hamlyn, Quick and McIntosh.
Also in 1968, a boardroom coup replaced Cecil King with his deputy chairman, Hugh Cudlipp, a former newspaper editor.
Reed International takeoverEdit
Cudlipp had no interest in management, and was uneasy both with his new role and with IPC's diversification into computerised publication and other new technology. In 1969 he therefore proposed to former Mirror Group director Don Ryder, who was then chairman of the Reed Group, in which IPC had a 30% shareholding, to mount a reverse take-over of IPC by Reed.
IPC-Mirror Group was thus itself taken over in 1970, by the paper-making company Albert E Reed, which then renamed itself Reed International. In 1974, part of the publishing interests of Reed International were separated into IPC Magazines Ltd (comprising the magazine and comics holdings) and Mirror Group Newspapers (comprising the newspaper holdings). The latter was sold to Pergamon Holdings Ltd, a private company owned by Robert Maxwell, in 1984.
Sale of FleetwayEdit
In 1987, part of the comics holdings of IPC Magazines Ltd (comprising those comics and characters created after 1 January 1970, plus 26 specified characters from Buster, which was then still being published) were placed in a separate company, Fleetway Publications, which was sold to Pergamon Holdings.
In 1991, Egmont UK purchased Fleetway from Pergamon, merging it with their own comics publishing operation, London Editions, to form Fleetway Editions. The latter was absorbed into the main Egmont brand by 2000, having sold off the continuing titles (such as 2000 AD), and continued with only reprint and licensed titles (e.g. Sonic The Comic). IPC had retained the other comics characters and titles, i.e. those created before 1970 (except the 26 characters from Buster), including Sexton Blake, The Steel Claw, and Battler Britton One character, Dan Dare, was sold separately and is currently owned by the Dan Dare Corporation. In August 2016, Egmont sold its remaining library of IPC/Fleetway to Rebellion Developments, who had previously acquired 2000 AD.
Time Inc. takeoverEdit
In 1998, IPC Magazines Ltd was subject to a management buyout financed by Cinven, a venture capital group, and the company was renamed IPC Media. Cinven then sold the company to Time Inc., then the magazine publishing subsidiary of Time Warner, in 2001. In January 2009, the company's chief executive became Evelyn Webster, replacing Sylvia Auton who had run it since 2001.
IPC Media formally became Time Inc. UK in September 2014, creating a single Time Inc. brand in both the US and UK.
2018 sale to EpirisEdit
On February 26, 2018, Meredith Corporation, who had completed its purchase of Time Inc. almost a month earlier, announced it was selling Time Inc. UK to a fund associated with British private equity firm Epiris. The transaction closed on March 19 of that year.
Professional Publishers Association AwardEdit
Current publishing divisionsEdit
Time Inc. UK groups its current titles under three magazine divisions each focusing on a core audience.
Targeting the mass market for women.
Targeting upmarket women.
Targeting the market for men.
- Country Life
- The Field
- Shooting Times
- Shooting Gazette
- Sporting Gun
- Horse & Hound
- International Boat Industry (IBI)
- Practical Boat Owner
- Yachting Monthly
- Yachting World
- SuperYacht Business
- Motor Boat & Yachting
- Motor Boats Monthly
- Rugby World
- World Soccer
- Golf Monthly
- New Musical Express (NME)
- Cycling Weekly
- Cycling Active
- Cycling Sport
- Mountain Bike Rider
- Amateur Photographer
- What Digital Camera
- Amateur Gardening
- Angler's Mail
- History of IPC on the IPC Media website
- Fleetway - A History
- History of Look and Learn
- Birch, Paul. "Speaking Frankly," Archived 20 July 2011 at the Wayback Machine. Birmingham Mail (14 December 2008).
- Reed Elsevier profile on ketupa.net
- Trinity Mirror Group History Archived 14 September 2008 at the Wayback Machine. on the Trinity Mirror Group website
- Devitt, Maureen. "Scottish Television profit 21% brighter". Herald Scotland. Retrieved 23 August 2014.
- History of IPC Media on the IPC Media website
- Bunge, Nicole. "REBELLION ACQUIRES FLEETWAY AND IPC YOUTH GROUP ARCHIVES". ICv2. Retrieved 4 November 2016.
- Johnston, Rich. "Rebellion Buys Fleetway Archive – Roy Of The Rovers, Oink, Tammy, Battle, Whizzer And Chips And More". Bleeding Cool. Retrieved 4 November 2016.
- Time Inc to acquire IPC from Cinven from Time Warner website
- Time Inc. Rebrands IPC Media Time Inc. UK
- Meredith Corporation Reaches Agreement To Sell Time Inc. UK To Epiris
- Meredith Corporation Finalizes Sale Of Time Inc. UK To Epiris
- Emagine from Rhapsody helps IPC Inspire secure PPA Award
- "IPC Media". About us. IPC Media. Retrieved 21 August 2013.
- "IPC Brands". IPC Advertising brands - Connect. IPC Media. Retrieved 21 August 2013.
- "IPC Brands". IPC Advertising brands - Southbank. IPC Media. Retrieved 21 August 2013.
- "IPC Brands". IPC Advertising brands - Inspire. IPC Media. Retrieved 21 August 2013.
- Howard Cox and Simon Mowatt, "Monopoly, Power and Politics in Fleet Street: The Controversial Birth of IPC Magazines, 1958-63 " Business and economic history online (2014) #12