UK drinks magazine Harpers is in the process of being sold to the William Reed g group for an undisclosed sum, sources confirmed today.
The weekly trade magazine, currently owned by Nexus Media, is thought to have been up for sale for several months, with William Reed keen to acquire the title.
There are concerns over how Harpers will fit into William Reed’s existing portfolio, which already includes trade titles Wine & Spirit and Off Licence News.
There is also speculation as to how the deal will affect the International Wine and Spirit Competition, currently sponsored by Harpers. Both were previously owned by Nexus Media.
The IWSC’s rival competition – the International Wine Challenge, run in association with Wine & Spirit Magazine – is owned by William Reed.
William Reed would not comment on the deal today.
It is not yet known when the official handover will take place.
Nexus Business Media Ltd Events Division, which runs the IWSC, has announced the sale of its UnderSea Defence Technology shows to Clarion Events.
Written by John Abbott