FOR IMMEDIATE RELEASE
HEART MEDIA ACQUIRES “PALACE” MAGAZINE
Singapore, July 2, 2013 - Heart Media has announced the acquisition of PALACE magazine from Oriental Publishing Pte Ltd in Singapore. PALACE is a prominent quarterly regional magazine focusing on high-end properties for sale in Asia and around the globe. The deal marks the first acquisition by Heart Media this year.
With a print-run of 35,000 copies, PALACE magazine is published and distributed on a quarterly basis in Singapore as well as in key cities across Asia-Pacific: Kuala Lumpur, Jakarta, Bangkok, Hong Kong, Melbourne, Sydney, Manila, Beijing and Shanghai. The magazine reaches HNWI across the region looking at buying high-end properties within Asia or in major capital cities worldwide.
Mr. Olivier Burlot, CEO & Publisher at Heart Media, comments: “Over the past three years, Oriental Publishing have built the PALACE media brand in the luxury property and lifestyle media market and have gained the trust of the most discerning & sophisticated readers. With PALACE magazine joining our Group, we will offer additional integrated and tailored solutions to our clients, with leading marketing capabilities in the print, digital and events environments”. Burlot adds: “Heart Media, as one of the leading magazine publishers in Asia, will continue to seek out new opportunities actively, leveraging on our existing portfolio to better serve our readers and advertisers in Asia”.
Mr. Rainer Sigel, Publisher of Oriental Publishing Pte Ltd comments, “We are very happy to see this acquisition come through. With Heart Media’s professional background, its regional network and the owners' growth strategy for PALACE, the magazine will be able to reach its full potential”.
For more information, please contact: Ms Katherine Ong-Froggatt
About Heart Media
The newly established company Heart Media Holding Ltd. acquired Heart Media group´s (established in 1997) entire business in April 2013, including its Malaysian and Indonesian entities, comprising its stable of magazines such as WOW (World of Watches), Men’s FOLIO, FORM (Singapore) and ROOM (Malaysia) as well as digital properties. The group has offices and market presence in Singapore, Malaysia, Indonesia and Hong Kong.
Heart Media is committed to ensure that the group meets the diverse needs and interests of its readers, advertisers and business partners. Heart Media is set to be one of the region’s fast growing high-end media players.
About Oriental Publishing Pte Ltd
Oriental Publishing Pte Ltd is part of the Oriental Media Group, with publishing offices in both Singapore and Vietnam. In Singapore, the group publishes the bi-mohtly regional luxury title SOLITAIRE (The Fine Art Of Jewellery), aimed at the HNW women's market, and JETGALA (Life Beyond First Class), a quarterly regional ultra luxury title aimed at the UHNW men's sector. Both magazines have licensed editions in Indonesia, published in the Bahasa Indonesia language.
In Vietnam, the group publishes eight luxury magazines and annuals, in both the Vietnamese and English languages, including DELUXE, THOI GIAN, AM THUC, GOURMET VIETNAM, SPA & RESORTS, REST & RELAX VIETNAM, etc.