Frankie publisher Morrison Media bought out in $10m deal

The publisher of Frankie Magazine Morrison Media has been acquired by Pacific Star Network (PSN) for $10m as it looks to “diversify the portfolio beyond broadcasting and sport”.

PSN is best known for assets including the SEN sports radio network which broadcasts in Melbourne and its Total Football magazine, whilst Morrison Media’s other titles include The Smith Journal, White Horses and Surfing Life.

Frankie in particular has been a standout performer for print magazines posting consistent climbs in its circulation over the past few audits, and is known for its stylish layout and distinctive content, which  PSN has promised to leave untouched.

Andrew Moffatt chairman of  PSN said ina  statement to the Australian Securities Exchange: “For some time, OSN has been assessing acquisition opportunities and believes that orrison Media provides the combination of first class titles, advertisers and capability that fits within our ambition.