Bauer Media set to sell Money magazine to Rainmaker Group

Bauer Media is set to sell its Money magazine to Rainmaker just four months after the demise of Cosmopolitan.

A customer browses a rack of business magazines in a newsagent in Sydney. Picture: Bloomberg

Bauer Media is set to sell its personal finance magazine Money to Rainmaker Group, four months after closing women’s magazine Cosmopolitan.

An announcement is expected tomorrow, a person, who didn’t want to be identified, told The Australian.

Bauer’s local boss Paul Dykzeul, who is travelling in Poland at the moment, was tight lipped on the deal.

“I don’t ever comment on speculation and that’s what it is,” he told The Australian from Poland.

Chris Page, managing director of financial services information company Rainmaker, didn’t return calls seeking comment.

EMBARGOED TIL MARCH 6TH. Financial commentator Effie Zahos has written a book " A real girl's guide to money", aimed at young women. Picture: John Appleyard

Money magazine boasts on its LinkedIn page that it is “Australia’s longest-running, highest selling and most read personal finance magazine.”

It has a small editorial team, which includes Paul Clitheroe, chairman and chief commentator, editor Effie Zahos and deputy editor Maria Bekiaris.