Mercury Capital, a private equity firm, agreed to acquire the publishing business of Bauer Media, a multimedia conglomerate. Financial terms were not disclosed. “Bauer Media remains committed to magazine publishing. This decision supports our strategy to invest in our market leading brands where we believe we are best placed to do so. We have been proud to be the custodian of these iconic brands in Australia. I would like to thank our talented teams for their commitment and the contribution they have made to Bauer Media. I wish them well for the future," Veit Dengler, Bauer Media COO.