Haymarket Media Pty Ltd’s managing director Jeremy Vaughan said: "We’d been considering our options in Australia and when nextmedia approached us we thought it was the right opportunity to divest.
“With Haymarket Media Group’s global focus on its chosen markets, and its recent expansion in Singapore, we saw this as the ideal time for our Australian brands to go to local publishers that will invest to ensure their long term future.
“Over the next few weeks we will be focusing on a smooth transition of staff and brands to the three publishers.
“For the past 10 years our talented and dedicated staff have done a wonderful job of producing outstanding and award-winning magazines, websites and digital products of which we are extremely proud.
“Although Haymarket will no longer operate from within Australia, we will continue to have strong connections with Australia through our portfolio of imported magazines, subscriptions, syndication feeds and the licensing of FourFourTwo and F1 Racing to nextmedia.
“I'd like to thank all our loyal staff, suppliers, contributors and freelancers and wish the publishers who are taking over our brands all the very best for the future.”
Kevin Costello, Chief Executive of Haymarket Media Group added: “Haymarket is very proud of its brands and its people in Australia and we believe they will have the best opportunity of growing and prospering with local publishers who will invest in them to realise their full potential.
“We also look forward to partnering with nextmedia to develop the Australian presence of our much-loved consumer football and motorsport brands, FourFourTwo and F1 Racing.”
