IPC Media Completes Divestment With Sale of Classic Boat and Racecar Engineering
(Press Release) December 7, 2010—As part of the review of IPC Media's niche and specialist titles, the company today announces the sale of Classic Boat and Racecar Engineering to The Chelsea Magazine Company.
Every month, Classic Boat showcases the world's most beautiful classic yachts and traditionally-designed work boats, together with a wealth of news, opinions and reviews. Racecar Engineering brings the best possible insight into all forms of the rapidly changing world of motorsport engineering.
The deal sees The Chelsea Magazine Company acquire the brands—currently published within the IPC Inspire portfolio—with immediate effect. There will be no interruption to the publishing schedule of either title.
The Chelsea Magazine Company is an independent publishing company run by an experienced team of creative and marketing professionals, with offices in the United Kingdom and North America. The company publishes: Artists & Illustrators, Cruise International, Military Times, Current World Archaeology, First Eleven and Britain, the official magazine of VisitBritain. Chelsea has also recently acquired Yachts & Yachting magazine.
IPC Inspire managing director Paul Williams says: "Chelsea is a passionate independent publisher, and will provide a great new home for both these brands. I'd like to thank the teams at Classic Boat and Racecar Engineering for their hard work and commitment throughout the review and acquisition process. They have done a brilliant job and I wish them all the very best for the future."
Chelsea managing director Paul Dobson adds: "My team has become well-known over the years for publishing fine quality magazines, from Motorsport to The English Garden. We understand and value specialist titles with a committed readership, and Classic Boat and Racecar Engineering are good examples of magazines that we publish so well. We are delighted to have added them to our rapidly expanding portfolio."
Staff transfer to Chelsea with immediate effect.
The deal marks the completion of the final divestment as part of the IPC Media strategic review, which began in April.
About IPC Media
IPC Media is one of the leading consumer magazine publishers in the UK. Its three publishing divisions are: IPC Connect, IPC Southbank and IPC Inspire. IPC is wholly owned by Time Warner, one of the world's largest media groups. Website: www.ipcmedia.com
About The Chelsea Magazine Company
The Chelsea Magazine Company is an independent publishing company run by an expert team of creative and marketing professionals, with offices in the United Kingdom and North America.