AOL gets Loaded with takeover of IPC

AOL Time Warner is buying the publisher of New Musical Express and Loaded, after touching down in the UK print market. In a deal worth £1.15bn, the US media giant has taken control of IPC, the UK's leading consumer magazine publisher.

Already in possession of a number of media companies, AOL said that it is important to expand into Europe in order to keep growing. The takeover will see AOL add 120 magazines to its collection, including What's on TV? with its readership of 1.7 million.

But with a massive number of consumer magazines in the UK already, some say the market is overcrowded and causing a huge slow down in advertising.

However, AOL's chairman Don Logan claims to be bringing expertise to IPC in a bid to improve its subscription services and marketing efforts.

IPC said it was pleased with the deal, stating that AOL "is a substantial player with strong management" and that it will "use their infrastructure as a building block".