Shares in IVE Group Australia have lifted after the print communications provider signed a four-year deal with Seven West Media's publishing arm to produce its entire stable of regular mastheads.
IVE said the majority of Pacific Magazines' titles will transition to IVE from mid-October, while two titles, New Idea and Better Homes & Garden, will transition in January.
IVE managing director Warwick Hay said the company was delighted to be expanding its services with Pacific Magazines, which would be underpinned by a current $40 million investment program to upgrade its technology and establish a subsidiary in NSW.
IVE shares gained 3.2 per cent to a two month high of $2.27.
Last November, Pacific Magazines overhauled its youth publications, selling off K-Zone and Total Girl to special interest publisher Nextmedia.
The company also decided, following six months of consumer research, to scale back the print frequency of popular teen mag, Girlfriend, from monthly to seasonal, turning its focus to the title's digital format to target teenagers' burgeoning use of mobile phones.
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