New Idea Publisher Sold to Private Equity Based in Sydney

New Idea magazine is on display during the week of the birth of the son of the Duke and Duchess of Cambridge at a newsagent on July 24, 2013 in Sydney, Australia. Cameron Spencer/Getty Images

Australia’s biggest magazine publisher has been sold to a Sydney-based private equity firm.

Bauer Media Australia, the publisher of Woman’s Day, New Idea and Women’s Weekly, has been sold to Mercury Capital.